Sign in
China’s major solar inverter maker Ningbo Deye Technology Co. is planning a USD 150 mn investment in Malaysia, Bloomberg reports. The company plans to launch a Malaysia-based subsidiary that will set up facilities to produce photovoltaic equipment and energy storage products. The move, however, awaits regulatory greenlights from both the Chinese and Malaysian governments.
(** Tap or click the headline above to read this story with all of the links to our background and outside sources.)
The rationale: The company said the plans are crucial to hedge against uncertainties stemming from the international trade environment and the macro environment. It said that the move will also help with expanding into new overseas markets.
REMEMBER- The US is going after China’s solar production bases in Southeast Asia: The US Commerce Department announced preliminary tariffs on solar imports from Southeast Asia in October, claiming that the panels are benefiting from illegal foreign subsidies to supply products at prices lower than their cost. The general rates are 9.13% for imports from Malaysia, 23.06% for Thailand, 2.85% for Vietnam, and 8.25% for Cambodia. To avoid the tariffs, some Chinese players were reportedly considering shifting operations to Indonesia and Laos.
