Trina Solar, a prominent Chinese solar panel manufacturer, is reportedly in the early stages of planning a third factory in Vietnam, according to information sourced from three individuals, as reported by Reuters. This development coincides with Trina Solar facing punitive tariffs on its exports to the United States, stemming from its production facilities in Thailand.
Trina Solar stands among the world's leading solar panel producers in terms of sales volume and currently operates two factories in Vietnam, solidifying its position as one of the country's largest solar panel manufacturers.
The expansion efforts of Chinese companies in Southeast Asia have garnered heightened attention, particularly from the United States, which alleges that these businesses benefit from what they perceive as unfair state subsidies.
The proposed third factory is anticipated to encompass approximately 25 hectares of land and necessitate an investment of approximately $400 million, as indicated by sources cited by Reuters.
This move aligns with a broader trend of increased Chinese investment in Vietnam. Vietnamese government data reveals that China ranked as the second-largest foreign investor in Vietnam during 2023, injecting $2.7 billion into various operations within the country between January and mid-August.
Furthermore, an additional Reuters source has suggested that Trina Solar has allocated an additional $600 million for potential investments in solar production within Vietnam in the future. These developments underscore the growing significance of Vietnam as a focal point for Chinese companies seeking strategic investments in the renewable energy sector.
