Panasonic Shifts Focus, Invests $1 Billion in Clean Technology
Japanese conglomerate Panasonic is shifting its focus. Panasonic is in the process of acquiring Sanyo Electric Co., a struggling but major solar panel manufacturer. The merger would position Panasonic well to reap the rewards of the burgeoning global solar market. Company President Fumio Ohtsubo said in an article by Bloomberg.com that Panasonic’s other lines of products will also benefit from the move toward green, probably due to the increased green demand from consumers in both developed and undeveloped nations.
What’s extremely important for Panasonic is the completed purchase of Sanyo Electric. Panasonic’s key interests apparently lie in Sanyo’s 30 years of solar panel manufacturing expertise and the company’s power storage manufacturing capabilities (i.e. lithium-ion batteries). With a wing of construction companies in Japan, the company intends to build energy-efficient structures and homes there, complete with energy monitors that track both solar panel generation and home energy consumption built right into the family TV. Panasonic has also developed its own use for lithium ion batteries and plans to implement them in electric cars, solar panels and smart appliances.
The company feels it’s a good move. It’s a pretty safe bet that if companies start producing energy-efficient, well-made sustainable products at fair prices, the world will eat them up like iPods. In any case, while it’s sometimes hard to live in the world of massive conglomerate companies dominating many aspects of everyday life, it’s really nice to get cool stuff at affordable prices, too. I guess you call that a win-win?
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