 Batteries for the higher-end Model S sedan and Model X SUV will also be supplied by Panasonic.In early 2016 Panasonic president Kazuhiro Tsuga confirmed a planned total investment of about $1.6 billion by the company to construct the Gigafactory to full capacity.However, after the number of Model 3 reservations became known in April, Panasonic moved production plans forward and announced a bond sale for $3.86 billion, most of it to be invested in Gigafactory.