Panasonic invests $ 1.6 billion in the construction of the Tesla Gigafactory plant

Panasonic invests $ 1.6 billion in the construction of the Tesla Gigafactory plant

11.01.2016 News

Major Japanese manufacturer  Panasonic announced that it would invest $ 1.6 billion in the construction of the Tesla Gigafactory plant. As the company reported on its website, such an investment  is motivated by the fact that Panasonic shares the aims and objectives of the American automaker, and therefore wants to support its activities.

Analysts argue that this investment by Panasonic  is an opportunity to strengthen its position in the market to increase profits and to participate directly in the development of the Tesla electric cars. The Japanese company is ready to invest in promising projects up to 15% of its revenue (about $ 11 billion)  to become a world leader in the manufacture and supply of spare parts and electrical engineering over the next 10 years. Also, Panasonic plans to actively explore the market of electric cars and relies on the industry in the future.

Experts predict that thanks to successful investments, Panasonic revenues will increase  almost twice in the next four years.

The Panasonic  Corporation is one of the biggest companies in the field of mechanical engineering and electronics. In fiscal year 2014, its net income was $ 1.18 billion. At the same time the company’s revenue has increased by 6% to $ 75.8 billion.

Tesla Motors  is a large American company, which activities are aimed at the development and production of electric cars . Among its investors are the founders of Google, CEO of eBay, the heads of the payment system PayPal, and the biggest contributor was a businessman and billionaire Elon Musk, who has invested $ 70 million equity in the development of the company’s.

Source: forbes.net.ua

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