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BREAKING NEWS

Panasonic CEO says could soon increase output at Tesla's gigafactory battery plant

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Panasonic CEO says could soon increase output at Tesla's gigafactory battery plant

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TOKYO (Reuters) – Panasonic Corp <6752.T> Chief Executive Kazuhiro Tsuga said on Tuesday that output could soon be increased at Tesla Inc’s <TSLA.O> “gigafactory” battery plant as the causes of production bottlenecks for Tesla’s Model 3 are now understood. Luxury electric vehicle maker Tesla said early this month that “production bottlenecks” had left the company behind its planned ramp-up for the new Model 3 mass-market sedan. The plant is operated jointly by Panasonic and Tesla. Panasonic produces battery cells for Tesla’s electric vehicles, while Tesla makes battery packs using the cells.

(Reporting by Makiko Yamazaki; Editing by Christopher Cushing)
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