Panasonic signs letter of intent for Tesla's battery "gigafactory"
Groundbreaking on one of at least two possible factory sites may happen as early as next month,
Elon Musk, Tesla's chief executive officer and main shareholder, disclosed Panasonic's growing interest in his "gigafactory" battery plant yesterday (7 May) while discussing the company's first-quarter financial results, reports Bloomberg News. Panasonic has reportedly signed a letter of intent to join the battery project. Chieko Gyobu, a Panasonic spokesperson, confirmed the letter of intent by e-mail to Bloomberg News.
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