US Company Becomes World’s Most Valuable Solar Firm After Chinese Rivals Slip
- First Solar’s market capitalization surpasses that of Sungrow
- Chinese firms beset by price war and growing trade barriers
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A US company has become the world’s most valuable solar manufacturer for the first time since 2018, as Chinese rivals suffer from a profit-slashing price war and an onslaught of trade barriers erected by Washington.
First Solar Inc. gained 1.5% Friday to end trading with a market capitalization of $21.15 billion. The move higher allowed the Arizona-based company to overtake Sungrow Power Supply Co., which saw its shares fall 4.2% Friday in Shenzhen to put its value at about $20.85 billion.