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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle



Tesla and Panasonic Join Forces

Panasonic and Tesla are in the making of becoming the dynamic duo of solar tech. The two companies have just recently finished the inner workings of a deal that will allow them to begin making solar cells and modules in Tesla’s Buffalo, New York factory.

This deal between the two companies stands to create an estimated 1,400 new jobs which include at least 500 manufacturing jobs. Since Tesla has hopes of furthering its manufacturing in the U.S., it helps that Tesla and Panasonic are to spend $5 billion building a factory in Nevada that will begin making batteries for energy storage items and electric vehicles.

Work in the New York factory is set to begin this upcoming summer. A spokeswoman for Panasonic says that they plan on investing 30 billion yen ($256 million) on equipment. Earlier in the fall Tesla had announced that it would begin manufacturing a solar roof.

This solar roof project began once Tesla acquired the company SolarCity. According to Bloomberg, a Tesla spokesperson says that “Tesla will also incorporate Panasonic’s cells into the many kinds of solar glass tile roofs that Tesla will be manufacturing.”

While the solar roof is something to look forward to, Tesla has other projects up its sleeve. The company is working on an electric sedan that is expected to launch sometime in 2017.

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