Tesla needs Panasonic $ 1.7 billion

Tesla Motors company has a commitment from Panasonic for a total amount of 1.7 billion dollars. They are associated with «gigaparts» that will produce batteries for Tesla.

In 2014, the company Panasonic, which supplies batteries to Tesla, has agreed to allocate funds for equipment for the factory.

It is expected that the factory will produce batteries for Tesla by the end of this year, and at full capacity it will be released by 2020. The production cost is estimated at $ 5 billion. Company Panasonic has recently increased its investment in the company, in anticipation of high demand for its products.

Source: Reuters

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