Daily Management Review

Tesla, Panasonic refuse to increase production at Gigafactory 1


04/12/2019


Tesla and Panasonic have temporarily abandoned the idea of increasing production at Gigafactory 1, the world's largest factory for the production of batteries for electric vehicles, according to Nikkei.



TheNoxid
TheNoxid
The agency sources report that the joint venture partners planned to increase capacity of the plant by 50% next year, but changed their mind due to financial problems. The power of Gigafactory 1 is now equivalent to 35 GW per hour, and by 2020 it was supposed to grow to 54 GW per hour. But the lack of proper demand for electric cars and the low profitability of the business prevented Tesla and Panasonic plans.

The factory in the US state of Nevada produces batteries for the first mass electric car Tesla Model 3. However, the demand for them was not as high as originally expected. Tesla sales in the first quarter of this year fell by 30% compared with the beginning of 2018. The Panasonic battery division has completed 2018, with a loss of $ 180 million.

Against the background of this news, Tesla shares at the opening of trading on the NASDAQ sank 2.85%.

source: nikkei.com






Science & Technology

China's first solar power molten salt plant sets record

WSJ announces imminent start of Boeing 737 MAX flight tests

Study: Machine learning is five times more harmful for the environment than a car

Would Singapore Be The First One To Bring Lab Grown Shrimps To The Global Market?

Apple Patents A ‘Foldable Screen’ For Creating Foldable iPhones

Research Shows Air Pollution Causing Birth Defects

Microsoft tells about operating system of the future

Study: Third of US kids wake up at night to check their smartphones

Deepfake AI Technology Used By Researchers To Bring Mona Lisa ‘To Life'

China is developing technology to capture greenhouse gases

World Politics

World & Politics

‘Climate Neutrality Must Be Achieved By 2050’: The EU Bloc Leaders

All Out US-Iran War Unlikely After Downing Of American Drone, Say Analysts

A number of airlines stop flights over the Strait of Hormuz

Former UEFA President detained to testify in a corruption case

Iranian Foreign Minister urges other countries to abandon the dollar

The EC recommends starting penalty procedure against Italy

European Breweries To Up Their Brewing Innovation Amid Green Legislations

‘Frequent’ Shootings Causes China To Issue Travel Advisory Against US To Its Citizens