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InvestmentsChina's Longi plans to set up more manufacturing plants overseas By Reuters

China’s Longi plans to set up more manufacturing plants overseas By Reuters

© Reuters. FILE PHOTO: A employee conducts quality-check of a photo voltaic module product at a manufacturing unit of a monocrystalline silicon photo voltaic tools producer LONGi Green Technology Co, in Xian, Shaanxi province, China December 10, 2019. REUTERS/Muyu Xu

BEIJING (Reuters) – Longi Green Tech, the world’s largest monocrystalline silicon photo voltaic maker, is wanting to set up more manufacturing plants overseas, aiming to seize an even bigger market share and keep away from hefty U.S. import tariffs.

The Xi’an-headquartered Longji Green Technology Co has two offshore plants in Malaysia and Vietnam, accounting for about 1% of its whole wafer capability and 20% of its cell and module merchandise capability.

“Recently we are actively studying to build manufacturing plants in other regions with advantageous production factors, such as India, Saudi Arabia and the U.S.,” Li Zhenguo, President of Longi Green Tech, advised a web-based media roundtable on Thursday.

Longi has 85 GW of monocrystaline silicon wafer manufacturing capability and 50 GW of photo voltaic module manufacturing capability.

The agency will try to keep its world market share in monocrystalline silicon wafer at 45% and to deliver the share in photo voltaic module to more than 30%, Li mentioned, with out disclosing a timeframe. Longi equipped about 19% of photo voltaic modules worldwide in 2020.

The U.S. market was about 15% of Longi’s whole photo voltaic merchandise gross sales within the first half of 2021, in contrast with 11% in 2020, regardless of the persistent commerce dispute between Beijing and Washington.

“Chinese solar products are imposed by about 150% import tariffs by the U.S. It’s almost impossible for China-made products to be sold there,” mentioned Li, including that Longi’s Malaysia and Vietnam factories are primarily focusing on the U.S. market.

The U.S. authorities in June additionally banned imports from 5 Chinese photo voltaic corporations accused of utilizing compelled labour in Xinjiang.

Li mentioned transferring photo voltaic manufacturing capability overseas is a “right thing” in mild of China’s local weather change pledges.

“Carbon neutrality is not only a Chinese business, but a global issue… It is unfair to leave all energy consumption pressures on China while shipping Chinese solar products worldwide,” Li mentioned.

China, who has vowed to deliver its carbon emissions to a peak by 2030 and attain carbon neutrality by 2060, accounts for almost 80% of photo voltaic wafer and module capability on this planet.

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