Tesla, Panasonic To Build $750 Million Solar Factory In Buffalo, NY

The venture will create thousands of jobs and help the United States lower its carbon footprint.

Credit: TheCountryCaller

Earlier this week, Tesla announced that it will be partnering with Panasonic to produce photovoltaic cells at the new solar panel factory in Buffalo, New York. The structure’s construction started before Tesla purchased SolarCity for $2.6 billion.

According to Reuters, the Japanese electronics company Panasonic is investing $256 million in the factory. The announcement by the electric car maker reads:

“Panasonic will cover required capital costs in Buffalo and Tesla is making a long-term purchase commitment from Panasonic.”

The photovoltaic cells and modules will be used in solar panels for non-solar roof products and solar glass tile roofs, the announcement informs. No financial figures were shared.

Credit: breitbart.com

Production is intended to begin mid-2017 and will create thousands of jobs in the coming years. Over 1,400 employment opportunities will be created in Buffalo – including more than 500 manufacturing jobs. The Japanese company will also work with Tesla on developing PV next generation technology at SolarCity’s facility in Fremont, CA.

The state of New York has committed $750 million to build and outfit the plant at Buffalo’s RiverBend site. According to ArsTechnica, the investment is the centerpiece of NYC Governor Andrew Cuomo’s “Buffalo Billion” program to revitalize the upstate city.

What’s clear is that Tesla and Panasonic have entered into a long-term purchase commitment. When production of the solar roof begins, the electric car maker will incorporate the Japanese company’s cells into the numerous types of solar glass tile roofs that will be manufactured. Reportedly, all solar products produced by Panasonic will work seamlessly with Tesla’s energy storage products, such as the Powerwall. 

More exciting developments will undoubtedly be revealed. What are your thoughts? Please comment below and share this news!

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