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Tesla, Panasonic partner for $5 billion U.S. 'gigafactory'
Tesla, Panasonic partner for $5 billion U.S. 'gigafactory'

Tesla Motors will partner with Panasonic Corp. to create the $5 billion "gigafactory" battery plant that the company has said will bring down the cost of its popular but expensive electric cars. Panasonic could invest as much as $1 billion in the massive facility, which Tesla plans to build at an undetermined location in either Arizona, New Mexico, Texas or Nevada. (Although some analysts have speculated that California is also a possible future home for the gigafactory, Tesla chief executive Elon Musk has characterized this as "a long shot.") Tesla already uses Panasonic's lithium-ion battery cells, produced in Japan, for its California-made electric...

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