China’s solar giant Longi says it will adjust production amid ‘complex’ environment

CHINA’S Longi Green Energy Technology, one of the world’s largest solar panel manufacturers, said on Tuesday (Jun 4) it would “adjust” production amid a “complex industry environment”, but remains optimistic about the sector’s future.

The photovoltaic industry has been hit by various factors including price changes and trade policy adjustments this year, Longi said in a statement.

The US last month unveiled steep tariff hikes on Chinese imports including solar panels, electric vehicles and batteries.

A rapid expansion over recent years has also led to excessive capacity and fierce competition in the sector in China, weighing down prices and companies’ profits.

Longi said it will “adjust its production plans” according to market changes.

The company also cited digital technology upgrading as another reason for its production adjustment, adding that it is “firmly optimistic” about the long-term uptrend of the global photovoltaic industry. REUTERS