Panasonic plans to raise up to $ 3.9bn in corporate bonds , partly because it needs to keep up investment in Toyota ’s next plant , the Gigafactory in Nevada . Its automotive arm, Panasonic Automotive Systems Co., ranks No. 23 on Automotive News’ list of the 100 largest global suppliers with estimated total revenue from auto parts sales of $9.99 billion in its 2015 fiscal year. As a Tesla battery plant , the move is Panasonic ’s answer to helping Toyota respond to the demand for the forthcoming Model 3 electric vehicle , which has around 500 advance orders , as well as its plans to build the vehicles in 2018 , which will require a significant increase in battery cells .
Panasonic plans to raise up to $ 3.9bn in corporate bonds , partly because it needs to keep up investment in Toyota ’s next plant , the Gigafactory in Nevada . As a Tesla battery plant , the move is Panasonic ’s answer to helping Toyota respond to the demand for the forthcoming Model 3 electric vehicle , which has around 500 advance orders , as well as its plans to build the vehicles in 2018 , which will require a significant increase in battery cells .