Tesla, Panasonic to Begin Solar Panel Production in New York
- Production at Buffalo plant to begin in summer next year
- Move underscores deepening ties between the companies
Tesla, Panasonic Team Up to Begin Solar Panel Production
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Tesla Motors Inc. and Panasonic Corp. completed work on an agreement to begin manufacturing solar cells and modules at Tesla’s factory in Buffalo, New York, eventually bringing some 1,400 jobs to the region.
Production will begin this summer, with the factory’s output capacity expanding to 1 gigawatt by 2019, the companies said in a statement Tuesday. Panasonic will invest more than 30 billion yen ($256 million) on the installation of production equipment, Yayoi Watanabe, a spokeswoman for the Osaka-based company, said by phone. The total investment wasn’t disclosed in the statement.