Panasonic will invest more than $256 million in a New York production facility of Elon Musk’s Tesla Motors to make photovoltaic cells and modules, deepening a partnership of the two companies. In a joint statement on Tuesday, the two companies said they plan to start production of PV modules in the summer of 2017 and increase to one gigawatt of module production by 2019. The plan is part of the solar partnership that the two companies first announced in October, but which did not disclose investment details. The U.S. electric car maker is making a long-term purchase commitment from Panasonic as part of the deal, besides providing factory buildings and infrastructure.
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Post time: Jan-30-2017