Panasonic to exit solar production at Tesla’s New York plant as partnership frays

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Panasonic to exit solar production at Tesla’s New York plant as partnership frays GlobeBusiness

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Tesla has informed New York that Panasonic’s withdrawal “has no bearing on Tesla’s current operations,” the state said in a statement. The company employs over 1,500 jobs in the city of Buffalo, clearing its 1,460 commitment before April – and thereby avoiding a $41 million penalty – the state said.Panasonic said in a statement on Wednesday that it would cease production by the end of May and exit the factory by the end of September.

It is also another sign of a fraying partnership with the U.S. EV maker, which is set to diversify its battery supplies to include South Korea’s LG Chem Ltd and China’s Contemporary Amperex Technology Ltd . In the solar business, low demand from Tesla has left Panasonic sending most of the cells it makes in Buffalo to overseas clients, instead of selling them to Tesla for its trademark Solar Roof – cells designed to resemble regular roof tiles – as initially intended.

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