Look who's rolling into Sparks, Nevada
Oct 3 2014, 08:06 ET | By: Clark Schultz, SA News Editor
Panasonic (OTCPK:PCRFY) says it has set up a company in the U.S. to handle its lithium-ion battery production
It's not a surprise that the startup will be located in Sparks, Nevada where Tesla Motors (NASDAQ:TSLA) is setting up its gigafactory.
The Japanese electronics giant will fund Panasonic Energy Corporation of North America with $5M in capital.
Details on the total investment Panasonic plans to make in the gigafactory haven't been released.
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