- Early last year, Jinksolar revamped its overseas investment strategy in order to minimize its vulnerability to rising U.S.-China tensions over trade and technology.
- This strategy includes diversifying its manufacturing base and supply chain away from China, creating better and longer-lasting deals with contracted polysilicon suppliers worldwide, and an overhaul of the company’s aim of building a global ecosystem.
- Jinko Solar is also the largest solar panel manufacturer in the world in terms of cumulative global shipments boasting accolades for the highest quality and performance.
The expansion of the Vietnam wafer facility using polysilicon from U.S or European suppliers will also contribute to a push in expanding offshore manufacturing, which has become a major issue for U.S. customers, trade organizations and the U.S. government.
While the investment is beyond its previous expenditure on cutting-edge factories, it’s a shift for a company that now makes wafer mainly from its home base of China. Because of the anticipated demand for solar energy in the next decade and due to the polysilicon supply chain shortages, calls to diversify material supply sources and expand offshore manufacturing has become a hot topic to stave off future demand issues and prevent the company from potential risks.
Author: Bryan Groenendaal