Posted on 12/27/2016 7:34:48 AM PST by Rennes Templar
TOKYO (AP) — Japanese electronics company Panasonic and U.S. electric car maker Tesla said Tuesday they plan to begin production of photovoltaic cells and modules at a factory in Buffalo, New York.
The two companies said they finalized an agreement calling for Tokyo-based Panasonic to pay capital costs for the manufacturing. Palo Alto, California-based Tesla made a "long-term purchase commitment" to Panasonic.
Their statement gave no financial figures.
The factory in Buffalo is under development by SolarCity Corp., a San Mateo, California-based solar panel company owned by Tesla. The PV cells and modules it produces will be used in solar panels for non-solar roof products and solar glass tile roofs that Tesla plans to begin making, the announcement said.
Production is due to begin in mid-2017. Tesla said it will create 1,400 jobs in Buffalo, 500 in manufacturing and plans further expansion in Buffalo.
Panasonic also is to work with Tesla on next-generation technology, the companies said.
I’d first want to see where the money comes from.
I’d first want to see where the money comes from.
That’s easy, just check your Paycheck Stub for the Deduction.
Panasonic to invest $256,000,000.
Perhaps this will help: How to Read Your Paycheck: Understanding Your Pay Stub
Couldn’t have anything to do with Trump, could it?
...
Trump certainly didn’t hurt. Musk was one of those who met with Trump a couple of weeks ago.
Buffalo, NY??
I couldn’t think of a worse state...except my own California. Must be HUGE state and local tax give-always at work.
Ha ha..... :0)
The economy of Buffalo has been crashing for decades. They’re desperate to get serious manufacturing back.
Follow stories include:
<><> Handling fees and consulting services in Albany
<><> The list of consultants
Cash flows downhill into the Ratholes.
The people of NY outside of NYC desperately need this. I’m glad to see this. These are a part of the forgotten Americans and I, for one, am glad to see this.
FWIW, I think taxpayer funded bribes...er, incentives far more likely. Ex: Kraft.
We don’t need crony capitalism. Bribes don’t do a damn thing to lower taxes and reduce regs.
Not trump, Musk, and his his solar cells use mirrors and his rockets smoke too!
Take a peek behind the curtain, a huge machine that sucks money from taxpayers. And he keeps it well oiled.
Is SolarCity’s Buffalo Solar Plant a Failure? Tesla Thinks So
“The state of New York was so excited about the prospect of SolarCity’s solar panel plans that it handed the company a $750 million subsidy to build a 1 GW solar manufacturing plant in Buffalo. The building would cost $350 million to build and the state would spend $400 million in equipment that SolarCity could use for free. SolarCity just had to pay $1 per year in rent (seriously, rent is $1) and employ 2,000 people after full production is reached, something that hasn’t happened yet.”
http://www.fool.com/investing/2016/10/17/is-solarcitys-buffalo-solar-plant-a-failure-tesla.aspx
The factory was announced in 2014.
The article posted points out that Musk and Panasonic were in talks in October, before trumps election in Nov.
Grow up. I am sick of you guys claiming crony capitalism. Where the hell were you when the jobs were drained out of the US?
Exqueeze me. I’m an NYS lifer. Been experiencing crony capitalism for decades. Taxpayers, jobs, and House seats are still fleeing the state. Crony capitalism does NOT work. I gently suggest you refrain from shooting the messenger.
There is a stable, mature tech/manufacturing labor pool there from when IBM scaled down.. no millennials to run the company into the ground with ‘progressive’ management.
Sounds like Trump has plans to move New York State into the red column in 2020.
Nice!
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