Panasonic investing 100B yen in Sanyo solar cell ops

Panasonic plans to invest ¥100B (US ~$1.08B) over the next five years in the solar-cell operations of new subsidiary Sanyo Electric Co., part of a plan to become the No.1 supplier in Japan and one of the top three companies in the global market.

January 13, 2009 – Panasonic plans to invest ¥100B (US ~$1.08B) over the next five years in the solar-cell operations of new subsidiary Sanyo Electric Co., part of a plan to become the No.1 supplier in Japan and one of the top three companies in the global market.

The plan is to combine and leverage Sanyo’s HIT (heterojunction with intrinsic thin-layer) solar cell technology with energy management and construction materials from the parent and its Electric Works unit.

The investment in Sanyo is part of a larger plan to achieve more than ¥3 trillion ($32.5B) in overall sales for its environmental and energy group, which includes lithium batteries and power supply/distribution, notes the Nikkei daily.

Sanyo recently ramped up a production line in the US.

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