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Sanyo ups solar, battery action as it courts Panasonic

Source: VentureBeat

Nov 06, 2009

Summary

Massive battery-maker Sanyo Electric is looking to be acquired by Panasonic — forming an almost invincible force in the energy storage space. Now, to make itself even more attractive as an acquisition, it’s hiking its investment in the solar and automotive battery segments of its business.

The shift may have been motivated by Panasonic’s latest offer for the company — which came in lower than Sanyo had anticipated. Sanyo says it plans to grow its solar operations to 600 megawatts of capacity by 2011. And because it makes its own silicon, it may be able to make finished-product solar panels up to 33 percent cheaper by the end of 2010. This announcement follows an earlier $83 million Sanyo sunk into solar earlier this year.

Even as it ponders a sale, Sanyo says its goal is to become the number one supplier of auto batteries in the market as electric vehicles and plug-in hybrids roll into showrooms next year.

Panasonic has also made claims on this title, announcing earlier this month that it has found a way to merge lithium-ion cells usually used to power laptops i

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