Tesla and Panasonic cooperation

American manufacturer of electric cars Tesla and Panasonic Corporation of Japan signed an agreement on joint construction of the plant in the United States under the name Gigafactory. The new production site will produce batteries for cars Tesla. At present, a preliminary assessment of the joint project is about five billion U.S. dollars. 

In the first stage, Panasonic Corporation expects to invest in the project about 190-290 million dollars, and further increase its share up to a billion dollars. At the same time Tesla is ready to spend on building about two billion dollars.