BRIEF-Tesla CEO says company has letter of intent with Panasonic for battery factory

DETROIT Wed May 7, 2014 6:26pm EDT

DETROIT May 7 (Reuters) - Tesla Motors Inc earnings conference call with CEO Elon Musk and CFO Deepak Ahuja: * CEO Musk says company has letter of intent with Panasonic for battery factory * CEO Musk says California back in running as site for battery plant * CEO Musk says Panasonic would be only company producing cells in the factory * CEO Musk says expects to bring in cells from other factories in the world,

with a lot being Panasonic cells but other suppliers as well * CEO Musk says Model X crossover vehicle is coming in the second quarter of next year * CFO says 2015 will be dominated by spending on gigafactory * CEO says company does not have demand issue in China, it has a lot of demand

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