Panasonic Corp is inviting a number of Japanese materials suppliers to join it in investing in a U.S. car battery plant that it plans to build with Tesla Motors Inc, with investment expected to reach more than 100 billion yen ($979 million), the Nikkei reported.Tesla shares also hit an all-time high on Tuesday after one brokerage firm set a new target price that suggested shares would rise almost 50 percent from Monday's closing price.The plant, expected to go on-stream in 2017, will bolster Panasonic's supply of lithium-ion batteries to the U.S. electric-car maker.Last week, Tesla shed some light on its plans for building a lithium-ion battery plant, or "giga factory," that will cut battery costs and allow the company to launch a more affordable electric car in 2017. However, it said at the time that further details would be announced this week.
Tesla Motors, Inc. (Tesla) designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components. Shares of TSLA traded higher by 14.23% or $30.9797/share to $248.63. In the past year, the shares have traded as low as $33.80 and as high as $218.36. On average, 9244900 shares of TSLA exchange hands on a given day and today's volume is recorded at 29629694.
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