Panasonic to Buy Sanyo, Focus on Solar and Battery Businesses

Panasonic announced that it was buying Sanyo for $9 billion, a deal that Panasonic hopes will launch the company’s solar and battery businesses. Sanyo will become a part of the Panasonic group and bring with it their large solar PV business.As an example of Sanyo’s commitment to solar energy, the company plans to build a 70MW solar manufacturing facility in Oregon this coming year. Panasonic hopes to capitalize on projects like these, as well as expand into crystalline silicon solar cells and to develop next-generation solar cells.Along with a large expansion into the solar business, Panasonic will be making “active investments” in lithium-ion batteries for hybrid and electric vehicles. Panasonic hopes the collaboration with Sanyo will bring lucrative contracts with large automakers.

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