Panasonic plans to raise up to $3.9bn in corporate bonds, partly because it needs to speed up investment in Tesla’s battery plant, the Gigafactory in Nevada. The company has been struggling with production delays and a lack of demand for its electric cars.
Panasonic plans to raise up to $3.9bn in corporate bonds, partly because it needs to speed up investment in Tesla’s battery plant, the Gigafactory in Nevada. 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 500,000 vehicles in 2018, which will require a significant increase in battery cells.