Honda to start mass production of solar cells in 2 years

Honda to start mass production of solar cells in 2 years

Japanese tech giant Honda has announced that they plan to start mass production of solar cells within the next two years. The company is planning to target the growing market for environment friendly sources of energy for electronic gadgets. Honda is now planning to setup a new factory for solar cells on the site of a car plant in Kumamoto prefecture, on the southwestern Japanese island of Kyushu.

The company is the third largest automaker in the Japanese market and along with Toyota are pioneers in hybrid cars. Honda now plans to generate annual sales of 5 billion to 8 billion yen ($40 million to $70 million) from solar cells after they manage to reach the full production capabilities of 27.5 megawatts. This capacity would be good enough to power around 8000 houses.

Honda has not revealed by when they expect to reach that capacity and also declined to reveal the investment in the project. Newspaper reports put this investment at around 10 billion yen. Honda would have competition from companies like Kyocera Corp in this market. Honda would be using non-silicon compound materials for developing their products.

The company is targeting both corporations and regular households for their new products and plan to concentrate on their domestic market first.

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