Chinese solar panel producer invests $500 mln in Vietnam
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Chinese solar panel maker JinkoSolar Holding Co. has announced a $500 million investment into Vietnam to build a manufacturing facility in the northern province of Quang Ninh.
The new facility is set to be operational in the first quarter of next year and has an annual capacity of 7 gigawatts, the company stated Monday.
It will produce panel components including ingots and wafers.
“The decision to build a facility in Vietnam is one component of our strategy to ensure the long-term stability of our global supply chain,” said Nigel Cockroft, general manager of JinkoSolar U.S. Inc.
The company has nine manufacturing facilities globally and 22 overseas subsidiaries.
Questions & Answers
Q.What kind of solar panel components will JinkoSolar's new Vietnamese facility produce?
What kind of solar panel components will JinkoSolar's new Vietnamese facility produce?
The new facility in Vietnam is set to produce panel components. Specifically, it will manufacture ingots and wafers, which are crucial parts in the solar panel production process.
Q.When is the new manufacturing facility in Quang Ninh expected to begin operations?
When is the new manufacturing facility in Quang Ninh expected to begin operations?
JinkoSolar's new manufacturing facility in the northern province of Quang Ninh is projected to become operational in the first quarter of next year. This will mark its official start of production.
Q.What is the stated reason for JinkoSolar's investment in a Vietnamese manufacturing facility?
What is the stated reason for JinkoSolar's investment in a Vietnamese manufacturing facility?
The company stated that the decision to build a facility in Vietnam is part of its broader strategy. This move aims to ensure the long-term stability of its global supply chain, according to general manager Nigel Cockroft.
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