Tesla and Panasonic Halt Plans To Expand Gigafactory – Model 3 Demand Slows
https://wccftech.com/tesla-and-panasonic-halt-plans-to-expand-gigafactory-model-3-demand-slows/
Tesla and its partner Panasonic are scrapping plans to upgrade the capacity of Tesla’s massive Nevada Gigafactory according to a report out of Japan that surfaced this morning.
Panasonic is responsible for the high tech battery chemistry inside of the Gigafactory, and once the batteries are completed they are handed to Tesla (NASDAQ:TSLA) to assemble and package them. The Osaka-based company, which is the world’s leading supplier of EV battery packs, has been planning a ~$1.4B upgrade of the massive factory which would boost available production capacity by an estimated 50 percent by 2020. The two companies have spent an estimated $4.5B thus far on the factory.