Tesla Motors Inc (NASDAQ:TSLA) shares just keep rocketing upward, higher and higher, as investors carry on the stock’s momentum—and their speculations about what the automaker will have to say about its planned gigafactory.
Tesla’s momentum won’t stop
Shares of Tesla Motors Inc (NASDAQ:TSLA) hit a new intra-day high of $265 a share today. It’s been on a tear since last week, receiving an especially big boost from Morgan Stanley’s report on Tuesday. The only question now is how Wall Street will react to the actual news when Tesla does reveal more about that gigafactory this week.
Will investors be as happy with what the automaker has done on the facility so far, or have expectations again gotten too high? We’ll have to wait to find out.
Tesla partner Panasonic seeks partners
Meanwhile, Japanese newspaper Nikkei is reporting that Panasonic, which is Tesla Motors Inc (NASDAQ:TSLA)’s main partner on battery production, has been talking terms with the automaker regarding the gigafactory. Tesla CEO Elon Musk has so far declined to provide a list of potential partners on the factory, although he did say that Panasonic probably would be because they have been partnering on battery production for some time.
In addition to the talks with Panasonic, Nikkei is also reporting that Panasonic was seeking other Japanese suppliers to partner in the gigafactory plant as well. According to the newspaper, investment for the factory could reach higher than $1 billion.
How the gigafactory will help Tesla, Panasonic
The big issue Tesla Motors Inc (NASDAQ:TSLA) has been dealing with over the last several quarters has been battery supply, so obviously the gigafactory would be aimed at handling that problem. It probably is still years away, but there is a lot of work to do in the meantime. As a result, investors are likely to be focused on the topic for quite some time, wanting to be informed about every step of the process.