Japanese electronics company Panasonic and U.S. electric car maker Tesla said Tuesday they plan to begin production of solar cells at a factory in Buffalo, New York. The two companies said they finalized an agreement calling for Tokyo-based Panasonic to pay capital costs for the manufacturing. Palo Alto, California-based Tesla made a “long-term purchase commitment” to Panasonic. Their statement gave no financial figures.
The factory in Buffalo is under development by SolarCity Corp., a San Mateo, California-based solar panel company owned by Tesla. The photovoltaic cells and modules will be used in solar panels for non-solar roof products and solar glass tile roofs that Tesla plans to begin making, the announcement said. READ MORE