Panasonic eyes Sanyo; bets on solar power, hybrid cars

Reuters - Tue Nov 4, 2008 1:37pm EST

By Kiyoshi Takenaka

TOKYO (Reuters) - Panasonic Corp, the world’s top plasma TV maker, is betting on a green future of solar power and hybrid cars as it negotiates a price for rival Sanyo Electric Co that analysts say could be up to $8.7 billion.

A key driver for Panasonic is Sanyo’s auto batteries business that powers increasingly popular hybrid and electric vehicles, but it would also secure a foothold in the solar cell industry, another with strong growth potential amid concern about global climate change.

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