TOKYO/PALO ALTO, U.S. -- Panasonic shares gained nearly 4% in Tokyo on Friday due to news that the big electronics maker is freezing plans to expand the capacity of the world's largest EV battery plant, Gigafactory 1, run jointly with U.S. automaker Tesla.
Investors welcomed Panasonic's decision to reduce its dependence on the automaker and mitigate business risks.
