U.S. markets close in 6 hours 24 minutes
  • S&P 500

    4,162.94
    -4.65 (-0.11%)
     
  • Dow 30

    34,270.37
    +40.03 (+0.12%)
     
  • Nasdaq

    13,517.88
    -64.54 (-0.48%)
     
  • Russell 2000

    2,241.37
    -6.92 (-0.31%)
     
  • Crude Oil

    65.54
    -0.09 (-0.14%)
     
  • Gold

    1,793.60
    +9.30 (+0.52%)
     
  • Silver

    26.93
    +0.41 (+1.56%)
     
  • EUR/USD

    1.2064
    +0.0055 (+0.46%)
     
  • 10-Yr Bond

    1.5870
    +0.0030 (+0.19%)
     
  • GBP/USD

    1.3898
    -0.0010 (-0.07%)
     
  • USD/JPY

    109.2390
    +0.0500 (+0.05%)
     
  • BTC-USD

    57,418.99
    +1,578.08 (+2.83%)
     
  • CMC Crypto 200

    1,477.06
    +5.65 (+0.38%)
     
  • FTSE 100

    7,052.60
    +13.30 (+0.19%)
     
  • Nikkei 225

    29,331.37
    +518.77 (+1.80%)
     

Panasonic to raise $3.9 billion, partly to finance Tesla plant investment

Panasonic's logo is seen on a wall of an electronic shop in Tokyo February 3, 2012. REUTERS/Kim Kyung-Hoon/File Photo

TOKYO (Reuters) - Japan's Panasonic Corp said on Friday it would raise up to 400 billion yen ($3.86 billion) in corporate bonds, partly because it needs to bring forward its investment in a Tesla Motors Inc battery factory.

Panasonic plans to respond to brisk demand for the electric car maker's upcoming Model 3 sedan, Senior Managing Director Hideaki Kawai told reporters after the company reported earnings.

"In the near term, strategic investment (from the money raised) would be mostly in Tesla's Gigafactory. There is a need to speed up investment," Kawai said.

(Reporting by Makiko Yamazaki; Editing by Christopher Cushing)