On April 23,Boway issued an announcement on investing in the construction of solar cell and module expansion projects to increase investment projects and increase the amount of investment. According to the announcement, it plans to add 2GW of TOPCon cell expansion projects in the United States. Previously, Boway planned to invest in the construction of a 3GW TopCon solar cell expansion project in Vietnam and a 2GW TopCon module expansion project in the United States, with a total investment of 190,000 yuan. After the construction of a photovoltaic cell plant in the United States, the investment amount has increased from 190,000 yuan to 3,150,400 yuan.
Boway's new energy business mainly produces and manufactures in Vietnam, and solar cells and modules are mainly sold to the U.S. market. The company's Vietnam production base has obvious advantages. In terms of production costs, the average wage level of workers in the area and the low energy prices such as electricity bills are conducive to reducing the production cost of products.
Combined with the company's strategic planning, the company has invested in the construction of 3GW TOPCon cells with an annual output in Vietnam, and 2GW TOPCon modules and 2GW TOPCon cells in the United States, which will further expand the company's development in Vietnam. At the same time, it will help the company further expand the international photovoltaic market in North America and Europe, enhance the company's core competitiveness in the field of new energy, promote the company's international strategic layout, and promote the company's sustainable development.