Panasonic recently announced that it was going to buy Sanyo for nine billion dollars. As a part of the Panasonic group, Sanyo will help Panasonic bust into the growing solar market by bringing to the table their large solar PV business.

As part of Sanyo’s long term commitment to solar power, the company plans to build a 70MW solar manufacturing facility in Oregon in 2009. Panasonic wants to make gains on projects like these, and while they are at it, further expand into crystalline silicon solar cells and the development of next-generation solar cells.

To add to this major expansion into the solar business, Panasonic will be making active investments in lithium-ion batteries for hybrid and electric vehicles. Panasonic hopes the collaboration with Sanyo will initiate big money contracts with some of the big players in the fumbling auto industry.