Tuesday, December 27, 2016

"Panasonic to invest over $256 million in Tesla's U.S. plant for solar cells" (TSLA)--UPDATED

UPDATE below.
Original post:
Combined with the expansion of their credit lines the company has now raised 3/4 billion of the estimated $3 billion immediate need and $6-12 billion 5-year need.
From Reuters:
Panasonic Corp (6752.T) will invest more than 30 billion yen ($256 million) in a New York production facility of Elon Musk's Tesla Motors (TSLA.O) to make photovoltaic (PV) cells and modules, deepening a partnership of the two companies.

Japan's Panasonic, which has been retreating from low-margin consumer electronics to focus more on automotive components and other businesses targeting corporate clients, will make the investment in Tesla's factory in Buffalo, New York.

The U.S. electric car maker is making a long-term purchase commitment from Panasonic as part of the deal, besides providing factory buildings and infrastructure....MORE
There are a few mentions of the New York plant in relation to Tesla's financing needs on the blog, here's the most recent, Dec. 21:

Tesla Increases Available Credit Lines After Saying No Fundraising Needed In Q4 (TSLA)
We've done a lot of thinking about Tesla's cash requirements and between the initial production at the Nevada Gigafactory commencing next month, the build-out of that space over the next three years, the New York SolarCity plant, the expected 2017 groundbreaking for a second Gigafactory somewhere in Europe and funding the operating losses at both SolarCity and Tesla, we figure a near term need for $3 billion and an ultimate requirement of $6 to $12 billion over five years....
UPDATE: "Oops, Missed One: Tesla Had Another $241 Million Cash Infusion We Didn't Mention (TSLA)"

The stock seems to like the financing, up $6.45 (+3.02%) at $219.79. It has been a good December for longs, we have no interest:
TSLA Tesla Motors, Inc. daily Stock Chart