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China’s green tech firms target new consumers hit by Iran war energy shock

The Japan Times·Lili Pike·21 days ago
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Batteries for electric vehicles at a Gotion High-tech Co. plant in Hefei, China | BLOOMBERG China’s clean technology titans, hungry for export markets to boost flagging profits, aren’t letting a crisis go to waste. Manufacturers of electric vehicles, batteries and solar panels have been wooing nations looking to wean themselves off costly fuel imports since the Iran war triggered a global energy shock. One of the country’s largest solar manufacturers, Jinko Solar Co., inked two deals at the end of April with partners in Nigeria — in a region where diesel prices have soared 40% since the start of the crisis — while auto manufacturers are hunting avenues to extend sales into locations including Europe, and energy storage firms are lifting overseas shipments. “Chinese manufacturers are catching an export tailwind from this worldwide rush, which is helping to support their prices in overseas markets,” said Chia Chen, an analyst at Bloomberg Intelligence (BI).…

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