Telsa Inc. shares TSLA, +1.38% fell 4% in premarket trade Thursday, after a report that the electric car maker and Japan's Panasonic Corp. 6752, -0.25% are freezing plans to expand their Gigafactory 1, on concerns about weakening demand for Tesla's cars. The pair had planned to increase capacity at the world's biggest electric vehicle battery plant by next year, the Nikkei reported, but financial problems have led them to reconsider that plan.
Have breaking news sent to your inbox. Subscribe to MarketWatch's free Bulletin emails. Sign up here.
I heard it will be converted to making toasters instead.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: