Panasonic Investing $256M in Tesla’s Solar Cell Plant




/ 7 years ago

solar cell panasonic

Japanese company Panasonic has been expanding from their consumer electronic base and into more integrated components as well as business solutions so sticking with Tesla in their Solar Cell plant based out of New York seems like a good move. Panasonic’s investment is in the neighborhood of about 30 billion yen or $256 million USD and in exchange, Tesla is making a long-term purchase commitment from Panasonic, deepening their ties further.

The partnership was first announced in October 2016 but details were only announced publicly recently. Panasonic has many years of experience with battery technology which will be used in Tesla’s upcoming Model 3 just like they were the exclusive supplier for Tesla’s Model X and Model S. The model 3 is slated for 2017 release around March and Tesla is also planning to launch the solar cell roof, Powerwall 2, Model Y, Tesla Trucks and more.

Production of the photovoltaic modules in the Buffalo, New York factory will begin in summer of 2017 and surge to one gigawatt module production capacity by 2019. “When production of the solar roof begins, Tesla will also incorporate Panasonic’s cells into the many kinds of solar glass tile roofs that Tesla will be manufacturing,” according to the official press statement. Panasonic and Tesla have also joined forces on Tesla’s battery gigafactory in Reno, Nevada which is a $5 billion USD facility. The Reno facility will produce lithium-ion batteries for electric cards and energy storage products for homes and utilities.


Topics: , , , ,

Support eTeknix.com

By supporting eTeknix, you help us grow and continue to bring you the latest newsreviews, and competitions. Follow us on FacebookTwitter and Instagram to keep up with the latest technology news, reviews and more. Share your favourite articles, chat with the team and more. Also check out eTeknix YouTube, where you'll find our latest video reviews, event coverage and features in 4K!

Looking for more exciting features on the latest technology? Check out our What We Know So Far section or our Fun Reads for some interesting original features.

eTeknix Facebook eTeknix Twitter eTeknix Instagram eTeknix Instagram
  • Be Social With eTeknix

    Facebook Twitter YouTube Instagram Reddit RSS Discord Patreon TikTok Twitch
  • Features


Send this to a friend
})