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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (2308)

4/11/2019 11:11:32 PM

From: elmatador

Read Replies (1) | Respond to of 13871

Panasonic cuts Tesla risk to stem further bleedingTOKYO -- Panasonic's decision to halt investment in an electric vehicle battery plant run jointly with Tesla marks a change in strategy for the company, which went all in on the project but now seeks to reduce its dependence on the automaker.

Panasonic has so far stuck with Tesla, betting its future on the iconic American company's brand power and the global following that it commands.

But high materials costs and heavy depreciation on the $4.5 billion Gigafactory 1 in the U.S. state of Nevada have weighed on the Osaka-based company's profits.