Tesla's Battery Ambitions Gets Stock Jumping

Tesla Motors Inc. shares hit a record high of $248 on Tuesday ahead of an expected announcement of a battery-production partnership in which the company would carve out a business making advanced batteries for itself and others. Panasonic Corp., now the primary battery supplier for Tesla's $71,000-and-up electric cars, is in talks about investing in a nearly $1 billion battery factory in the U.S., according to Japanese business newspaper the Nikkei. Panasonic said in a statement it was "considering various options to strengthen our ties" with Tesla. Panasonic shares were up 7% in early trading in Tokyo on Wednesday.

via Business News - Yahoo Finance http://ift.tt/1ejP8Wd