China's solar industry is facing challenges as the world's top solar firm, Longi, plans to cut up to 30% of its 80,000 workforce due to a market glut. The surge in production of key sectors like lithium-ion batteries, electric cars, and solar panels is driving the need for vast amounts of sand. Beijing is urged to address the crisis and allow prices to decrease further.
World’s largest solar manufacturer to cut one-third of workforce https://t.co/rORHT8fszp
A reminder: China is critical to the mineral supply chain, including graphite, lithium and copper. (and this doesn't consider investments!) 📊 @VCElements https://t.co/QNLyruyVMr
China's Longi to cut nearly one-third of staff, Bloomberg News reports https://t.co/PPSGkvm2b0 https://t.co/u0Y4jz3HMP
"World’s Top Solar Firm Longi Plans Thousands of Job Cuts on Glut" https://t.co/i0KsbwOLwU https://t.co/aVeqtSXcLB
World’s Top Solar Firm Longi Plans Thousands of Job Cuts on Glut *Up to 30% of approx. 80,000 workforce could go > @business SCOOP https://t.co/oTpqXlWCon
Longi grew from 4,000 employees in 2012 to 80,000 last year as solar companies raced to capture the lion's share of a growing market. With profits shrinking, it's now set to lay off as much as 30% of its workforce. Great @luzdingyu scoop. https://t.co/xHq3Gkw6Ep
China's solar industry is in the grip of a frenzied gold rush, write @davidfickling and @tculpan. Beijing needs to fix the crisis and allow prices to fall further https://t.co/29xEqvFp1l
A surge in production in sectors that Xi Jinping sees as important to China’s future, such as lithium-ion batteries, electric cars and solar panels, will require vast amounts of sand https://t.co/JLLEWFYAga 👇