China Green Tech Firms Target New Consumers Hit by Iran War Energy Shock
Suppliers of batteries, solar panels and electric cars are pushing to capitalize on rising demand.
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.