Tesla Motor Inc. (IW 500/227) and Panasonic Corp. (IW 1000/54) will begin production of solar cells and modules next year at a plant in Buffalo, N.Y.
Production will begin in the 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 (US$256 million) on the installation of production equipment, Yayoi Watanabe, a spokeswoman for the Osaka-based company, said by phone. The total investment was not disclosed in the statement.
