Panasonic sells solar factory in Malaysia to new Chinese R&D ally

Tesla partner forecasts 30% annual net profit drop as restructuring costs loom

20190509N panasonic solar cell factory malaysia

Panasonic makes solar cells at this plant in Malaysia.

BENKEI KURODA and YOHEI KAWAI, Nikkei staff writers

OSAKA -- Panasonic will sell a Malaysian subsidiary that manufacturers solar panels to Chinese company GS-Solar, its new partner in a research venture, the Japanese electronics group said Thursday.

The sale of Panasonic Energy Malaysia, which operates a factory in Kedah northwest of Kuala Lumpur, is set to conclude in November for an undisclosed amount.

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