With new year, new resolutions are being planned. Panasonic and Tesla are planning to start a business together in solar city project, which Tesla bought in November of 2.6 Billion Dollars. Panasonic is planning to invest 256 Million dollars.
In a blog post, Tesla wrote that:
“Panasonic will cover required capital costs in Buffalo and Tesla is making a long-term purchase commitment from Panasonic.”
The deal is similar to the partnership between Tesla and Panasonic at the Gigafactory, a $5 billion battery factory outside of Sparks, Nevada, that has been ramping up production throughout the year.
According to Tesla’s blog post, the factory will produce Panasonic’s “high-efficiency PV cells and modules.” Panasonic’s solar panels use several thin layers of silicon, a two-sided cell design, and heat-resistant cell structures to trap and produce energy more efficiently.
Tesla stated that Panasonic’s solar cell will also be used o create the solar roof tiles that Tesla showed off earlier. Tesla spokesperson announced that solar tiles are still under construction and will be in business in mid-summer 2017. Tesla also intend to build full gigawatt’s worth of solar tile modules by 2019.
Tesla noted that with this contract 1400 jobs will be offered at Buffalo,with at least 500 of those being in manufacturing. In addition, the company will work with Panasonic to continue solar panel research and development at SolarCity’s Fremont, California, facility.