Under the agreement, GS-Solar (China) will acquire Panasonic’s solar manufacturing subsidiary, Panasonic Energy Malaysia, while establishing a new company with Panasonic.

On May 9, 2019, Panasonic Corporation announced that it has reached a collaboration agreement with GS-Solar (China) Company Ltd. in the field of photovoltaic technology. Under the agreement, GS-Solar (China) will acquire Panasonic's solar manufacturing subsidiary, Panasonic Energy Malaysia, while establishing a new company with Panasonic. With GS-Solar holding a 90% share and Panasonic owning the remaining 10%, the two companies will jointly operate and invest in this new company in Japan, focused on the research and development of HIT technology.

Based on this collaboration, GS-Solar (China) will integrate Panasonic's innovations and manufacturing technologies in the field of HIT to drive breakthrough in efficient heterojunction technology and set milestones for the development of the energy industry. This collaboration also enables GS-Solar (China) to help start the industrialization and large-scale expansion of next-generation heterojunction technologies on a global scale.

The collaboration will also see Panasonic actively mobilize energy storage technologies, home energy management systems and emergency power storage systems, as well as other new energy resources, to help support the development of advanced heterojunction technologies and improve their product competitiveness. In addition, the company will integrate the HEMS, PV modules, storage batteries, ECO Cute heat pump systems, and electric vehicle charging solutions. Panasonic will also invest on areas of common development including zero energy consumption buildings (ZEH), the adaption of new energy management systems to the era of feed-in tariff subsidies, and the application of many solar energy-related products and technologies to emergency power energy storage systems for use during natural disasters.