Panasonic Corp and Tesla Motors Inc said on Thursday that they have agreed to a partnership to construct a large-scale battery plant planned by Tesla in the United States, known as the Gigafactory. Under the agreement, Tesla will prepare, provide and manage the land while Panasonic will manufacture and supply cylindrical lithium-ion cells and invest in the equipment, machinery and other manufacturing tools, they said in a joint statement.
Tesla Motors, Inc. (Tesla) designs, develops, manufactures and sells electric vehicles and advanced electric vehicle powertrain components. Shares of TSLA traded higher by 1.74% or $3.91/share to $228.92. In the past year, the shares have traded as low as $116.10 and as high as $265.00. On average, 5668650 shares of TSLA exchange hands on a given day and today's volume is recorded at 4927823.
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