“Panasonic Corporation looks at the automotive sector as a high-potential growth area, among others, and for that reason is prioritizing investment in this area,” the spokesman wrote in an email to Automotive News. Panasonic plans to raise about $646 million in corporate bonds, partly because it needs to speed up investment in Tesla ’s battery plant, the Nevada in Gigafactory . As a Tesla battery supplier, the move is Panasonic ’s answer to helping Tesla respond to the demand for the forthcoming Model 3 electric vehicle, which has around 373,000 advance orders, as well as its plans to build 373,000 vehicles in its fiscal first quarter , which will require a significant increase in battery cells.
Panasonic plans to raise about $646 million in corporate bonds, partly because it needs to speed up investment in Tesla ’s battery plant, the Nevada in Gigafactory . As a Tesla battery supplier, the move is Panasonic ’s answer to helping Tesla respond to the demand for the forthcoming Model 3 electric vehicle, which has around 373,000 advance orders, as well as its plans to build 373,000 vehicles in its fiscal first quarter , which will require a significant increase in battery cells.