Chris Woodyard | USA TODAY
Electric-car maker Tesla Motors and electronics giant Panasonic announced Thursday that they have signed a deal to build a huge battery plant in the U.S. — a “Gigafactory.”
Tesla has previously talked openly of Panasonic’s involvement with the project, which it needs to make lower-cost advanced batteries for a mass-market electric car, the Model 3, due later this decade. Tesla says the plant will require investment of up to $5 billion and employ up to 6,500.
Given the project’s huge scope, states named as finalists are lined up to try to attract the project. They include California, Nevada, Arizona, New Mexico and Texas.
