Tesla and Panasonic reached an agreement: next year to determine the production of solar cells

- Dec 29, 2016-

Panasonic and Tesla recently announced that the two sides have decided to start next year in New York factory production of photovoltaic cells (solar cells) and components.          

The two companies said in a joint statement, the two sides plan since the summer of 2017 in New York buffalo (Buffalo) factory production of photovoltaic components, 2019 production capacity will increase to one thousand trillion watts.          

The plan is part of the two companies announced in October this year, solar cell cooperation program. At that time, the two sides reached an agreement. Under the agreement, Tesla will be in New York Buffalo, new SolarCity factory production of solar panels.          

But at the time, this is only a non binding agreement, the result depends on whether the acquisition of SolarCity Tesla shareholders to approve the transaction. Last month, Tesla announced the completion of the acquisition of the solar company SolarCity, thus paving the way for the integration of Tesla SolarCity solar panel business.          

In addition to solar cells, Panasonic is currently the main supplier of Tesla lithium-ion batteries. In 2014, Panasonic had agreed to invest in equipment, machinery and other manufacturing tools for the Tesla super battery factory. The total cost of the plant is $5 billion and is expected to be put into production by the end of this year.

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