Panasonic to close its solar cell and module manufacturing business

Japanese electronics company Panasonic Corporation plans to shut down the production of solar products at its facilities in Malaysia and Japan by the end of financial year 2022. The company currently manufactures solar wafers, cells and modules at its facility in Malaysia. It will look to liquidate its subsidiary, Panasonic Solar Energy Malaysia, and lay off its employees by March 2022. Further, Panasonic will close operations at its Shimane facility in Japan by the end of the financial year 2022.  The company will, however, continue the manufacturing of storage batteries, inverters, etc. In Japan, rather than laying off employees, the company will shift those involved in solar cell production to other growing business areas within the facility.

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