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Panasonic Invests In Tesla Solar Cell Factory

Author: Source: Datetime: 2017-01-11 16:39:28
Panasonic Corp and Tesla Motors Inc, the two companies continue to cooperate in the production of lithium batteries, solar power batteries cells also launched a cooperation.

December 27, the two companies also announced that the two sides will be in the United States, Buffalo, New York (Buffalo) set up a joint venture plant, co-production of photovoltaic cells and components.

However, according to Bloomberg, Matsushita Electric has invested about ¥ 30 billion (US $ 260 million) in the investment, which will be used to expand the plant's production facilities.
Panasonic Corp and Tesla Motors Inc, the two companies continue to cooperate in the production of lithium batteries, solar power batteries cells also launched a cooperation.
Matsushita Electric's investment in the factory, has just been acquired by Tesla home solar photovoltaic project company Solar City factory. As early as Tesla proposed the acquisition of Sun City, the company has reached a plant agreement with the State of New York, the New York state government also agreed to invest 750 million US dollars.

Matsushita Electric is the main supplier of Tesla lithium batteries, and Tesla Model 3, Model S and Model X's exclusive supplier.

As of December 29 closing, Tesla's stock rose 0.21 US dollars / share, or 0.10 percent, to 219.74 US dollars / share.

However, due to shortage of funds and other issues, located in Buffalo City, the factory building was stagnant. In the acquisition of Matsushita Electric and Tesla's investment, the two sides said the factory will be put into operation in the summer of 2017, and in 2019 to achieve full operation. The plant will become North America's largest solar energy production base, the annual output will reach 1 gigawatt.

The plant will also create more than 1,400 jobs in New York State, including 500 manufacturing jobs. Tesla said the cooperation between the two sides of the production of solar cells and components will be used in the manufacture of portable solar power generator panels installed on the roof.

In addition, Matsushita Electric and Tesla cooperation, including the production of solar tiles, solar facades and other photovoltaic products, and these products and Tesla R & D Powerwall (civilian) and Powerpack (commercial) energy storage products to dock.

As part of the agreement, Tesla will ensure long-term purchases from Panasonic and provide office buildings and infrastructure for Panasonic at its Buffalo facility.

Matsushita Electric in 2009 began to supply batteries for Tesla. Tesla founder Elon Musk has publicly stated, "Japan is the heart of Tesla."

In 2011, the two companies reached an agreement, Panasonic began to provide Tesla electric car lithium battery; a year later, the two sides signed a total of four years of $ 7 billion lithium battery supply agreement. Under the agreement, Matsushita Electric in 2017 for Tesla to provide a total of 2 billion lithium battery.

In addition to the supply agreement, Tesla announced in 2014 in the United States Nevada build super battery factory (Gigafactory). Gigafactory cost $ 5 billion, is expected to be put into operation by the end of 2016. Matsushita Electric has also announced the plant's equipment, machinery and other manufacturing tools to invest.
Panasonic Corp and Tesla Motors Inc, the two companies continue to cooperate in the production of lithium batteries, solar power batteries cells also launched a cooperation.
According to the Nihon Keizai Shimbun reported that Panasonic plans to Tesla battery factory eight times to provide a total of not more than 1.6 billion US dollars of investment. Due to Tesla scheduled for 2017 listing of small cars "Model 3" pre-sale hot, Panasonic decided to advance the implementation of the investment, as soon as possible to improve the production scale, in order to avoid shortages caused by the battery production lag.

In addition to cooperation with Tesla, Panasonic is also the world's largest pure electric vehicle market - China, choose to cooperate with the Beijing Automotive Group, the two sides will be pure electric vehicle air conditioning for the core components of "electric compressor" joint production .

According to Matsushita Electric's fiscal 2015 annual report, as of March 2016, the company's auto-related business revenue of about 1.3 trillion yen. Matsushita plans in 2018 fiscal year, the company's revenue will be raised to 2 trillion yen, its pure electric car business will also be the key to revenue growth.
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