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8/19, 11:27 AM (Source: TeleTrader)
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Panasonic to ramp up Tesla battery production - report

Panasonic Corporation plans to invest $100 million to boost its manufacture of batteries for Tesla Inc, Nikkei reported on Wednesday.

The Japanese company looks to add another production line in a battery factory in the United States' state of Nevada and raise the facility's production capacity by 10%, the report read.

The US carmaker has so far managed to successfully navigate its way through the crisis caused by the coronavirus pandemic, reaching another all-time high the day before.

Breaking the News / BU