Tesla, Panasonic Freeze Spending on Factory

April 11, 2019
Tesla and Panasonic hold expansion plans at Gigafactory 1 as worries over demand for Tesla cars grows.

April 11, 2019—Tesla and Panasonic have paused expansion for Gigafactory 1 as investors worry about increasing demand for Tesla vehicles, reported CNBC.

Panasonic and Tesla had previously planned to increase the factory’s capacity by 50 percent by 2020, but have since reconsidered their plans.

The $4.5 billion Gigafactory near Reno, Nev., is where Panasonic and Tesla jointly make the battery packs for Tesla’s cars and energy storage products, and where parts of the Model 3 sedan are made.

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