Tesla, Panasonic consider solar tie-up
Print Edition
US electric-car maker Tesla said yesterday that it plans to start working with Japanese electronics company Panasonic Corp on solar energy.
Tesla said on its corporate blog that the companies have signed a non-binding letter of intent to begin collaborating on Panasonic’s production of photovoltaic cells and modules at a facility under construction by San Mateo, California-based solar-panel company SolarCity Corp in Buffalo in New York state.
The deal requires shareholders’ approval of Tesla’s planned acquisition of SolarCity.
Panasonic confirmed it was studying collaboration with Tesla to make solar products at SolarCity’s Buffalo facility, but declined to give details.
Tesla, based in Palo Alto, California, said the cells and modules would be used with its energy storage products. Tesla CEO Elon Musk says SolarCity’s installation network and Tesla’s global energy storage could provide customers a one-stop shop for sustainable energy and transport. Shareholders are due to vote on the acquisition on November 17.
“We are excited to expand our partnership with Panasonic as we move toward a combined Tesla and SolarCity,” said JB Straubel, chief technical officer at Tesla.
“By working together on solar, we will be able to accelerate production of high-efficiency, extremely reliable solar cells and modules at the best cost.”
The collaboration extends the partnership between Tesla and Panasonic, which includes the production of electric vehicle and grid storage battery cells at Tesla’s Gigafactory.
Panasonic’s operations range from household appliances to products for businesses.
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