Tesla Motors Inc (NASDAQ:TESLA) and Japanese electronics giant Panasonic are to deepen their collaboration with a move into solar energy panels.
The pair are already working on long range storage battery cells for charging and running electric cars.
Panasonic will also work with Tesla’s proposed partner Solar City on a new range of photovoltaic cells and modules assuming themerger goes through.
Mercurial entrepreneur Elon Musk is the largest shareholder in both Tesla and Solar City and the proposed merger has seen fierce opposition from some Tesla investors, which see its electric car potential being hampered by pairing with the highly indebted solar panel installer.
Musk says SolarCity’s installation network and Tesla’s global energy storage expertise would mean a one-stop shop for renewable energy.
He is scheduled to detail his vision for a convergence of solar roof, power storage and vehicle charging technology on 28 October.
Shareholders vote on the Solar City/Tesla deal on 17 November.
Story by ProactiveInvestors