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News Brief: Panasonic, Tesla enter solar panel production partnership

Panasonic Corp and Tesla Motors Inc have announced details on their solar manufacturing partnership in Buffalo, New York.

By Editorial Team December 28, 20160

Tesla Motors owes $1.7 billion to Panasonic Corp for electric vehicle batteries. Credit: Tech2

They have concluded an agreement to manufacture photovoltaic (PV) cells and modules at the site, with production planned to commence in the summer of 2017.

Panasonic has committed to investing over $256 million in the Tesla plant.

While Tesla is making a long-term purchase commitment from Panasonic as part of the deal, besides providing factory buildings and infrastructure.

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