Panasonic jumps more than 6 pct on report of Tesla battery plan

TOKYO Wed Feb 26, 2014 6:17am IST

A shopper walks past a Panasonic Corp logo at an electronics retail store in Tokyo February 3, 2014. REUTERS/Yuya Shino

A shopper walks past a Panasonic Corp logo at an electronics retail store in Tokyo February 3, 2014.

Credit: Reuters/Yuya Shino

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TOKYO (Reuters) - Shares in Panasonic Corp jumped more than 6 percent to a three-week high of 1,271 yen on Wednesday after the Nikkei newspaper said the firm is inviting a number of Japanese suppliers to join it in investing in a U.S. car battery plant it plans to build with Tesla Motor Inc (TSLA.O).

The newspaper said the investment for the new plant was expected to reach more than 100 billion yen.

Panasonic was the second-most traded stock on the main board.

(Reporting by Dominic Lau; Editing by Edmund Klamann)

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