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Panasonic plans to close its only solar cell factory in Europe next March

Source: Internet
Author: User
Keywords Layoffs closures Panasonic European solar
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According to foreign media reports, Panasonic plans to close its only solar cell plant in Europe next March and dismiss about 500 employees of the plant.

According to the news, Panasonic's solar cell plant in Hungary will be discontinued in September, when Panasonic will have only 3 solar cell factories, located in Japan's Osaka (Osaka), Shiga (Shiga) and Malaysia. Production facilities in Hungarian factories will be relocated to other factories.

European solar cell markets have been seized by Chinese manufacturers such as Yingli, which are already shrinking as the EU imposes punitive tariffs on solar cells imported from China. Japan's growing market and weak yen prompted Panasonic to shift solar cell production from Europe to Japan.

It is reported that Panasonic plans to sell 677,000 kilowatt solar cells this fiscal year, up 25% from the previous fiscal year.

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