Panasonic and Tesla join forces in solar energy

Panasonic and the American electric car producer Tesla have agreed to start working together on solar energy products, the spokesperson of the Japanese company stated on Monday, October 17.

The duo has already joined forces in the world's largest lithium-ion battery factory in Nevada, but they said that they planned to expand the cooperation.

The agreement pertains to the joint production of solar batteries in a Buffalo factory run by a subsidiary of Tesla. The Japanese company will provide the solar cell and module technology for products to be designed by Tesla.

The American company has said that the partnership will help step up the production of highly efficient, extremely reliable solar cells and modules with the lowest expenses possible.

The agreement requires the approval by shareholders of Tesla's planned acquisition of the solar panel company SolarCity Corp, headquartered in San Mateo, California, the announcement of the American company says.

Panasonic and Tesla also cooperate on electric vehicles, as well as the battery factory in Nevada, where the American company is putting a USD 5 billion “gigafactory” into operation, for which the Japanese partner will manufacture battery cells for the operation of the facility, and they are investing in equipment and machinery as well.

Panasonic Corporation

Tesla Motors United States

Panasonic

Tesla

electric car production

solar batteries

lithium ion battery factory

solar battery production

solar cells

solar panels

SolarCity Corp