Boston, MA 04/23/2014 (wallstreetpr) – Tesla Motors Inc. (NASDAQ:TSLA) looks set to enter into partnership with Panasonic for the construction of its most anticipated Gigafactory. No decision has yet been made on the State where the project will be situated, but the company’s CEO Elon Musk has reiterated their desire to work with the Japanese Giant.
Tesla Apologizes for delivery Delays
Panasonic on its part maintains no decision has been made on the matter and consequently refused to comment on the same. The Gigafactory is expected to cost Tesla up to $5 billion and will be in a capacity to make up to 500,000 Tesla sedans.
The announcement has caught many states in a cat fight for the 10 million square foot factory which is sure to result in thousands of jobs. States in contention for the multibillion project include Nevada, New Mexico, and Arizona.
Tesla Motors Inc. (NASDAQ:TSLA)’s CEO has in one announcement stated the construction could be undertaken in two states so as to minimize risks of delay. There have been lots of outcry from customers in Beijing and Shanghai as a result of ongoing delivery delays. Tesla has apologized for the same and stated it is trying to sort the issue once and for all. Tesla is reportedly investing hundreds of millions on Charging stations as demand continues to pick up in China.
Tesla Surging on Partnership Announcement
Tesla was surging in Tuesday trading session by highs of 7% after the company announced partnership expansion with Sixt leasing in Switzerland. Buyers in Switzerland will now get a lease for effective and attractive cost of driving for model S for abut CHF 660 per month. The fee will also be inclusive of annual serviced carried out by Tesla.
Drivers who would wish to lease Tesla Motors Inc. (NASDAQ:TSLA)’s Model S will be required to put a 10% down payment on a 36 month lease. Tesla has identified the importance of the European markets and is trying to spread its wings.