US Tesla, Japanese Panasonic to collaborate in making solar products
U.S. electric car maker Tesla says it plans to start working with Japanese electronics company Panasonic Corp. on solar energy.
Tesla's said on its corporate blog Monday that the companies have signed a non-binding letter of intent to begin collaborating on Panasonic's production of photovoltaic cells and modules at a facility under construction by San Mateo, California-based solar-panel company SolarCity Corp. in Buffalo, New York.
The deal requires shareholders' approval of Tesla's planned acquisition of SolarCity.
Panasonic confirmed it was studying a collaboration with Tesla to make solar products at SolarCity's Buffalo facility, but declined to give details.