Tesla Stock Plunges After EV Titan Abandons $4.5 Billion Gigafactory Expansion

2019-4-12 17:37

Tesla stock just can’t seem to catch a break. The latest shock? The Elon Musk-led firm and Panasonic abruptly shelved plans to expand the $4. 5 billion Gigafactory 1 in Nevada. Tesla Stock Suffers Another Major Setback Already the largest EV battery plant in the world, Tesla and Panasonic had planned to expand Gigafactory 1 by a staggering 50% to 54GWh by 2020.

The proposed increase stemmed from expected demand following the launch of the Model Y SUV. Tesla stock fell more than 4% in pre-market trading, dipping as low as $265. 60 following the bell. By press time, TSLA shares had

The post Tesla Stock Plunges After EV Titan Abandons $4. 5 Billion Gigafactory Expansion appeared first on CCN

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