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Panasonic jumps more than 6 percent on report of Tesla battery plan

26
Feb
2014

Shares in Panasonic Corp jumped more than 6 percent to a three-week high of 1,271 yen on Wednesday after the Nikkei newspaper said the firm is inviting a number of Japanese suppliers to join it in investing in a U.S. car battery plant it plans to build with Tesla Motor Inc. The newspaper said the investment for the new plant was expected to reach more than 100 billion yen ($979 million). Panasonic was the second-most traded stock on the main board.

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