Report: Panasonic promises $1.6 billion toward Tesla's battery-making Gigafactory

Panasonic is doubling down on its investment both in Tesla and the electrified future of mobility. According to MarketWatch, the Japanese electronics company has promised up to $1.6 billion toward the construction of Tesla Motors' lithium-ion battery-producing Gigafactory in Nevada. See also: Toyota is testing flat-panel satellite communication for future models The project is believed to cost between $4 and $5 billion to complete and won't be online for several years. When it is, Tesla hopes th...