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Panasonic Announces 256 Million Dollars Investment On Tesla Photovoltaic Cells

Author: Source: Datetime: 2016-12-28 12:50:21
December 27, Panasonic announced that the company will be in Tesla's solar cell factory in New York invested $ 256 million to co-production of photovoltaic cells and modules. This investment will further deepen the long-term cooperation between the two sides.
Panasonic Announces 256 Million Dollars Investment On Tesla Photovoltaic Cells
In the past period, Panasonic has been working to exit the low-margin consumer electronics business, more attention to auto parts and other business customers for the business. In this transition strategy, Panasonic decided to invest in Tesla in Buffalo, New York (Buffalo) factory.

As part of the investment transaction, Tesla has also made a long-term commitment to purchase - since then, Tesla in addition to the Matsushita factory in Buffalo to provide office buildings and infrastructure, the long-term purchase of Panasonic .
Panasonic Announces 256 Million Dollars Investment On Tesla Photovoltaic Cells
In a joint statement issued Tuesday, the two sides announced plans to begin production of photovoltaic modules from the summer of 2017, and plans to increase the module production to one thousand megawatts by 2019.

In October, Panasonic and Tesla announced their partnership in the solar power batteries business for the first time, the latest agreement is part of the plan, but the two sides did not disclose the details of the new investment.
Panasonic Announces 256 Million Dollars Investment On Tesla Photovoltaic Cells
Tesla is working with longtime partner Panasonic to provide the battery for the upcoming Model 3 car. In addition, Panasonic or Tesla Model S and Model X and other exclusive car battery supplier.
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