Tesla shares slump premarket on report suggesting gigafactory is on hold
Telsa Inc. shares TSLA, +1.38% fell 4% in premarket trade Thursday, after a report that the electric car maker and Japan's Panasonic Corp. 6752, -0.25% are freezing plans to expand their Gigafactory 1, on concerns about weakening demand for Tesla's cars. The pair had planned to increase capacity at the world's biggest electric vehicle battery plant by next year, the Nikkei reported, but financial problems have led them to reconsider that plan.
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