April 11, 2019 / 9:42 AM / 15 days ago

Panasonic says reviewing further investment in Tesla Gigafactory

April 11 (Reuters) - Panasonic Corp is studying further investments in battery production at its gigafactory joint venture with Tesla Inc, the company said, responding to a media report that the two companies had frozen previous investment plans.

Giving no details of its sources, Nikkei reported here earlier on Thursday that financial issues had led Tesla and Panasonic to rethink plans to expand the capacity of Gigafactory 1 by another 50 percent next year, having invested $4.5 billion in the plant.

Reporting by Vibhuti Sharma in Bengaluru; editing by Patrick Graham

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