Yoshio Ito, head of Panasonic's automotive and industrial systems (AIS) division stated May 20 that the company is willing to increase its investment in Tesla’s forthcoming “Gigafactory” in Nevada, if required, to help meet strong demand for Tesla’s new Model 3. Mr. Ito stated: “We will do our best to move up the schedule if requested.” Panasonic had previously announced plans to invest $1.6bn in Tesla’s $5bn plant as it will be producing car batteries for the automaker.
Yoshio Ito, head of Panasonic's automotive and industrial systems (AIS) division stated today that the company is willing to increase its investment in Tesla’s forthcoming “Gigafactory” in Nevada, if required, to help meet strong demand for Tesla’s new Model 3. Mr. Ito stated: “We will do our best to move up the schedule if requested.” Panasonic had previously announced plans to invest $1.6bn in Tesla’s $5bn plant as it will be producing car batteries for the automaker.