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Panasonic and Tesla on Their Way to Start Solar Panel Manufacturing In NY

It seems that people have made a resolution to install solar based equipment in 2017.The demand for that equipment is on the highest peak. The impact of the demand has literally forced the manufacturers to sell the panels at the absolute low price without any profit margin.

Panasonic and Tesla on Their Way to Start Solar Panel Manufacturing In NY

Owing to this, Tesla motors along with Panasonic corp. accomplished a deal to initiate solar cells and module manufacturing at Tesla factory in New York.

The collaborative efforts made by both the companies would probably develop some 1400 new jobs in the buffalo region.

It has been said that the production will start by summer as well as factory’s projected output capacity will be 1 GW by 2019.

The total investment figure isn’t disclosed yet. However, Yayoi Watanabe, a spokeswoman for Osaka-based Company, said that Panasonic will be investing 30 Billion yen ($256 Million) for the manufacturing equipment.
The declaration of the New York-based solar panel manufacturing has strengthened the relation between Panasonic and Tesla.

Both the companies are also building $5 Billion Giga factory at Reno Nevada. This facility will be responsible for producing batteries for energy storage products and for electric cars.

Tesla also acquired the solar installer company, SolarCity, for $2 Billion. Elon Musk—CEO of Tesla motors—revealed the plans of developing solar roof made up of glass until October which will be assembled using Panasonic solar cell modules.

It seems that Tesla is in plans to achieve the dominance in the solar equipment and electric products market; at least its action signifies the same picture.


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