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Panasonic to invest $100m in EV battery plant in US for Tesla

Japanese electronics giant to raise production capacity by 10%

Panasonic, one of Tesla's battery providers, will boost its U.S. production capacity next year in an investment expected to total well over $100 million.   © Reuters

OSAKA/PALO ALTO, U.S. -- Panasonic will boost production capacity of batteries for Tesla next year in an investment expected to exceed $100 million, Nikkei learned on Wednesday.

The investment will be made in Gigafactory 1, a battery plant in the U.S. state of Nevada with 13 production lines. Panasonic will add another line, increasing capacity by 10% to 39 gigawatt-hours per year.

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