Panasonic jumps more than 6 percent on report of Tesla battery plan

Reuters News
Posted: Feb 25, 2014 7:27 PM

TOKYO (Reuters) - Shares in Panasonic Corp jumped more than 6 percent to a three-week high of 1,271 yen on Wednesday after the Nikkei newspaper said the firm is inviting a number of Japanese suppliers to join it in investing in a U.S. car battery plant it plans to build with Tesla Motor Inc.

The newspaper said the investment for the new plant was expected to reach more than 100 billion yen ($979 million).

Panasonic was the second-most traded stock on the main board.

($1 = 102.1800 Japanese yen)

(Reporting by Dominic Lau; Editing by Edmund Klamann)