TCL Central Saudi Arabia Photovoltaic Crystal Chip Factory Project Signed a Joint Development Agreement with a Target Capacity of 20GW

On October 18th, TCL Central announced that it had signed a Joint Development Agreement with VisionIndustries to promote the joint construction of crystal chip projects in Saudi Arabia, with a target production capacity of 20GW for the first phase.In 2022, TCL Central proposed a development strategy of "implementing the global leading strategy of photovoltaic materials and maintaining its comprehensive strength among the top 1 in the world"

On October 18th, TCL Central announced that it had signed a Joint Development Agreement with VisionIndustries to promote the joint construction of crystal chip projects in Saudi Arabia, with a target production capacity of 20GW for the first phase.

In 2022, TCL Central proposed a development strategy of "implementing the global leading strategy of photovoltaic materials and maintaining its comprehensive strength among the top 1 in the world". Among them, commercial globalization and industrial globalization strategies have become one of the important paths for the company to maintain global market competitiveness.

As early as May this year, TCL Central had already signed a cooperation term sheet with VisionIndustries, intending to jointly establish a joint venture and invest in the construction of a photovoltaic crystal chip factory project in Saudi Arabia. The Joint Development Agreement signed with VisionIndustries this time specifies a target production capacity of 20GW for the first phase of the project, which will lay the foundation for TCL Central's new energy photovoltaic business "external circulation" and further enhance TCL Central's global market competitiveness.

CITIC Securities pointed out that from the perspective of long-term supply chain security, a balanced layout of production capacity will ensure the avoidance of the risk of supply interruption due to unexpected events; At the same time, with the trend of diversified overseas photovoltaic demand, manufacturers' proximity to project locations can help improve competitiveness in different markets.

The cooperation between TCL Central and VisionIndustries provides support and reference for the global development of China's photovoltaic industry. Especially the smart factory built by TCL Central based on "Industry 4.0" technology has achieved automated operation of the entire production line of the chip manufacturing system, forming a production mode with fewer people and intelligence. It has strong replicability and can achieve the transfer of process technology advantages, effectively avoiding cost problems caused by factors such as land and manpower in different countries.

The cooperation between TCL Central and VisionIndustries utilizes TCL Central's technology and manufacturing capabilities, as well as VisionIndustries and its shareholders' regional resources and business layout in energy, hydrogen energy, seawater desalination, and other areas, to create a globally leading, flexible, and large-scale photovoltaic wafer factory, leveraging the "green leadership" of Chinese photovoltaic enterprises on international platforms and promoting the global development of China's photovoltaic industry, It has provided important assistance for the transformation of the global energy system and global green and low-carbon development, and has made significant contributions to achieving the goals of "carbon peaking" and "carbon neutrality", and building a community with a shared future for mankind. (Quiet)