TOKYO: Panasonic Corp will invest more than 30 billion yen (US$256mil) in a New York production facility of Elon Musk’s Tesla Motors to make photovoltaic (PV) cells and modules, deepening a partnership of the two companies.
Japan’s Panasonic, which has been retreating from low-margin consumer electronics to focus more on automotive components and other businesses targeting corporate clients, will make the investment in Tesla’s factory in Buffalo, New York.
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