Panasonic to close its part of Gigafactory for 14 days

Tesla released this photograph of the Gigafactory exterior.
Tesla released this photograph of the Gigafactory exterior.(KOLO)
Published: Mar. 19, 2020 at 7:48 PM PDT
Email This Link
Share on Pinterest
Share on LinkedIn
March 20, 4 p.m. update:

Panasonic said Friday it will begin ramping down its Gigafactory operations next week and then will close for 14 days.

Tesla said Thursday it had no plans to close its part of the Gigafactory. A Tesla representative could not be reached Friday to see if that was still their plans.

“Panasonic is committed to safeguarding the health and well-being of every employee,” Panasonic said in a statement. “The Panasonic factory in Sparks, Nevada will begin ramping down operations early next week and will then close for 14 days. Employees impacted by the closure will receive full pay and benefits for the 14-day period.”

In the meantime, Panasonic said it has enacted precautions including social distancing. During the shutdown it will thoroughly clean the facility.

Original story

Tesla announced Thursday it is shutting down factories in Fremont, Calif., and New York, but the Gigafactory east of Sparks will remain open.

The statement said the Fremont factory will have production suspended on March 23 and the New York factory will close as well, “except for those parts and supplies necessary for service, infrastructure and critical supply chains,” the statement said.

“Operations of our others facilities will continue, including Nevada and our service and Supercharging network,” the statement continued.

Tesla could not immediately be reached for comment on why the Fremont and New York facilities had production suspended but Nevada’s Gigafactory will continue to operate.

Tesla said it was in a good position to weather the suspension of production.

“Our cash position at the end of Q4 2019 was $6.3B before our recent $2.3B capital raise,” the company said in a statement. “We believe this level of liquidity is sufficient to successfully navigate an extended period of uncertainty. At the end of Q4 2019, we had available credit lines worth approximately $3B including working capital lines for all regions as well as financing for the expansion of our Shanghai factory.”

Copyright KOLO-TV 2020