Re: Toyota Solar Panel Factory In Hawassa
Japan’s TOYO Co. Ltd has announced plans to establish a 2-gigawatt solar cell factory in Hawassa, Ethiopia.
This investment, which is set to amount to $60 million, comes amid growing concerns over new U.S. tariffs on solar panels sourced from several Southeast Asian countries, including Vietnam, where TOYO currently manufactures its products.
These tariffs have prompted the company to seek alternative production sites in order to continue supplying components to its U.S. market while avoiding the duty charges.
The factory in Ethiopia will be a strategic asset for TOYO, as the country benefits from a U.S. tariff exemption on double-sided solar panels. This move will allow the company to ramp up its production of solar cells to meet the anticipated demand for its planned 2-gigawatt panel facility in the United States. By shifting its production base to Ethiopia, TOYO is ensuring its supply chain remains competitive in the face of fluctuating international trade regulations.
https://furtherafrica.com/2024/10/18/ja ... -ethiopia/
This investment, which is set to amount to $60 million, comes amid growing concerns over new U.S. tariffs on solar panels sourced from several Southeast Asian countries, including Vietnam, where TOYO currently manufactures its products.
These tariffs have prompted the company to seek alternative production sites in order to continue supplying components to its U.S. market while avoiding the duty charges.
The factory in Ethiopia will be a strategic asset for TOYO, as the country benefits from a U.S. tariff exemption on double-sided solar panels. This move will allow the company to ramp up its production of solar cells to meet the anticipated demand for its planned 2-gigawatt panel facility in the United States. By shifting its production base to Ethiopia, TOYO is ensuring its supply chain remains competitive in the face of fluctuating international trade regulations.
https://furtherafrica.com/2024/10/18/ja ... -ethiopia/