Honda Motor Co., Ltd. has this week announced its intention to dissolve all operations of its wholly-owned subsidiary, Honda Soltec Co., Ltd. a PV production company. The decision will see Honda pull out entirely from the production and sales of PV products by Spring 2014.
Honda Soltec had been set up to promote and oversee the companys CIGS thin-film modules, created independently by the company and boasting impressive efficiencies: less energy is required to manufacture them, and the modules maintain a high level of performance in all manner of weather conditions.
However, Honda Soltec has struggled to garner an appropriate share of the market, and has suffered in a competitive CIGS market made all the more difficult in the wake of falling silicon prices.
Despite the companys best efforts, a statement released by Honda read: "The company does not have good prospects to attain its original business plan. Therefore, Honda came to the conclusion that it is difficult to continue in the photovoltaic business any longer."
Honda Soltec will continue to take new orders for its thin-film modules until mid-February 2014, with a committed after-sales service to be provided by Honda Kaihatsu Co., Ltd. for all PV systems sold up to that date.
Other Honda subsidiaries operating with the electricity generation sectors will be unaffected by this latest development.