The Japanese automotive group says it willscrap the wholly owned subsidiary next spring because falling prices ofsilicon, a key raw material in solar cell production, have made it difficult tocompete in the global PV market.
"Honda Soltec does not have goodprospects," the group admits, pointing to "considerablechanges” in the PV industry.
The closure marks a significant shift for the Tokyo-based group,which unveiled ambitious plans in 2010 to aggressively target residential PVsales in foreign markets with its 120W and 130W panels.
