A Photovoltaic Enterprise Plans to Raise 340 Million yuan to Expand Battery Production Capacity

On June 24, TOYO, a Japanese photovoltaic manufacturer, announced that it would sell 4,545,456 shares of the company's common stock through registered issuance to raise about $ 50 million (34027 5000 yuan). US $1 ≈ RMB 6.8055) for the expansion of the photovoltaic plant in Texas, USA, and for other purposes.

Earlier, in early June, TOYO announced plans to expand 1.5g W heterojunction battery capacity at its Houston, Texas, plant with an investment of $ 357 million. The project is carried out in stages, and it is expected that the whole project will be completed and initially put into trial production within 20 months. (For details, please click: a photovoltaic company expands 1.5g W battery production capacity after encountering tariff charges!

According to reports in the trade press, TOYO's announcement of the expansion of the HJT project in the United States at this time may be influenced by two previous events-First Solar sued 47 TOPCon module manufacturers and American photovoltaic companies to initiate an investigation into Ethiopian photovoltaic products. On February 24

this year, First Solar, an American photovoltaic company, applied to the United States International Trade Commission (ITC) for a "337 investigation" of 47 photovoltaic companies on the grounds that TOPCon technology patents had been infringed.

The 47 companies surveyed came from China, Germany, India, Japan and South Korea. Among them, two companies of TOYO are also on the list of being investigated.

One wave is not flat, another wave is rising. More than two months later, on May 12, First Solar, Qcells and other American photovoltaic companies applied for an investigation into imported photovoltaic products from Ethiopia, believing that some companies had transferred the final production process of photovoltaic products to Ethiopia to avoid import tariffs on Chinese goods.

This accusation directly names TOYO. According to the prosecution, the silicon wafers used by the company to produce solar cells in Ethiopia are all produced in China, and only solar cells are assembled into photovoltaic modules in Ethiopia or Vietnam and eventually exported to the United States. TOYO denied this.