Chinese solar manufacturers are facing significant challenges, leading to major strategic shifts and cancellations of large-scale projects. Longi, a key player in the solar production industry, is accelerating its move away from China due to increasing pressures, with most job cuts expected to occur within the country, according to Daiwa's Ip. This move is part of a broader trend of Chinese firms looking to relocate their production capacity offshore. In a related development, Lingda, another Chinese solar manufacturer, has terminated plans to construct a new $1.3 billion cell production plant. This decision comes amid concerns of severe overcapacity in the sector, which threatens to trigger a wave of bankruptcies and consolidations. The cancellation of such a significant investment, valued at $1.3 billion, highlights the growing challenges within the solar manufacturing industry in China.
This is an extremely good illustration of Europe's economic suicide. A mere 3 years ago (in May 2021), Swiss company Meyer Burger opened a state-of-the-art solar factory in Freiberg, Germany in order to "revitalize the solar industry in Europe". It was the largest plant for the… https://t.co/7p70uDOMzc
China Builder Radiance Defaults On Dollar Bond Amid Sales Slump - BBG https://t.co/3udxfsZFf7
Chinese developer Radiance defaulted on a $300 million bond after it missed a payment due Wednesday https://t.co/a8kIkUnuaZ
#China: Chinese Solar Manufacturer Cancels $1.3 Billion Factory https://t.co/q6Q5oos4pd
Chinese Solar Manufacturer Cancels US$1.3 Billion Factory - Bloomberg https://t.co/UfSf75A10l
Chinese solar manufacturer Lingda terminates plans to build a new $1.3 billion cell production plant as severe overcapacity threatens a wave of bankruptcies and consolidations in the industry - Bloomberg
Chinese Solar Manufacturer Cancels $1.3 Billion Factory - BBG https://t.co/ucsJ9lSVU1
Chinese solar manufacturer Lingda terminates plans to build a new $1.3 billion cell production plant as severe overcapacity threatens a wave of bankruptcies and consolidations in the industry https://t.co/WZxzP6f2SN
Longi Layoffs Speed Shift in Solar Production Away From #China Most of the job cuts will likely be in China, says Daiwa’s Ip Chinese firms increasingly looking to move capacity offshore https://t.co/kjnyYohf5j