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Stock Market & Financial Investment News

News Breaks
June 20, 2014
18:24 EDTPCRFYPanasonic to sell first TV plant to Daiwa House Industry, Nikkei reports
By next spring, Panasonic intends to sell its first TV plant to Daiwa House Industry for approximately $97M, Nikkei reports. Reference Link
News For PCRFY From The Last 14 Days
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July 31, 2014
06:51 EDTPCRFYPanasonic reports Q1 operating profit 82.3B yen from 64.2B yen a year ago
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06:51 EDTPCRFYNokia to acquire parts of Panasonic wireless network business
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05:41 EDTPCRFYTesla, Panasonic sign agreement for construction of U.S. Gigafactory
Panasonic (PCRFY) Tesla Motors (TSLA) said they have signed an agreement that lays out their cooperation on the construction of a large-scale battery manufacturing plant in the United States, known as the Gigafactory. According to the agreement, Tesla will prepare, provide and manage the land, buildings and utilities. Panasonic will manufacture and supply cylindrical lithium-ion cells and invest in the associated equipment, machinery, and other manufacturing tools based on their mutual approval. A network of supplier partners is planned to produce the required precursor materials. Tesla will take the cells and other components to assemble battery modules and packs. To meet the projected demand for cells, Tesla will continue to purchase battery cells produced in Panasonic's factories in Japan. Tesla and Panasonic will continue to discuss the details of implementation including sales, operations and investment. The Gigafactory will produce cells, modules and packs for Tesla's electric vehicles and for the stationary storage market. The Gigafactory is planned to produce 35GWh of cells and 50GWh of packs per year by 2020. Tesla projects that the Gigafactory will employ about 6,500 people by 2020. It expects cost reductions will be achieved through optimized manufacturing processes driven by economies of scale previously unobtainable in battery cell and pack production.
July 28, 2014
14:00 EDTPCRFYTesla, Panasonic reach pact on Gigafactory participation, Nikkei says
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