EnergyWatch

Media: Tesla puts major investment on hold

Due to disappointing sales of electric cars, Tesla and Panasonic has put planned expansion of thier Gigafactory on stand-by, writes media outlet Nikkei. Tesla disputes the announcement and promises continued investment in Gigafactory.

Photo: Tesla/PR

Media outlet Nikkei writes Thursday that electric car producer Tesla and its partner Panasonic has put major investments in their Gigafactory on hold.

Gigafactory, located in Nevada, is the world's largest battery plant for electric cars and is worth USD 4.5 billion.

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