Tesla says the production of photovoltaic cells and modules for solar energy systems used by SolarCity will begin in 2017. The deal would be a win for Panasonic, which has shifted away from consumer electronics products to focus on housing, car information systems and car batteries. The Tesla-Panasonic deal is contingent on approval of Tesla’s acquisition of SolarCity by the respective shareholders in a vote on 17 November. Six of the seven directors on Tesla’s board have SolarCity ties, and SolarCity’s CEO is Lyndon Rive, Musk’s first cousin. SolarCity, among the top installers of residential rooftop solar panels in the US, acquired solar manufacturer Silevo in 2014.

Source: Mint October 17, 2016 07:52 UTC