Home Blockchain News Tesla Stock Plunges After EV Titan Abandons $4.5 Billion Gigafactory Expansion

Tesla Stock Plunges After EV Titan Abandons $4.5 Billion Gigafactory Expansion

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Tesla stock just can’t seem to catch a break. The latest shock? The Elon Musk-led firm and Panasonic abruptly shelved plans to expand the $4.5 billion Gigafactory 1 in Nevada. Tesla Stock Suffers Another Major Setback Already the largest EV battery plant in the world, Tesla and Panasonic had planned to expand Gigafactory 1 by a staggering 50% to 54GWh by 2020. The proposed increase stemmed from expected demand following the launch of the Model Y SUV. Tesla stock fell more than 4% in pre-market trading, dipping as low as $265.60 following the bell. By press time, TSLA shares had

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