Zhongli Group issues a notice on June 1 to give an update on its subsidiary Talesun’s progress on capacity expansion. Zhongli disclosed that on March 12 this year, Talesun signed an investment framework agreement with the management committee of Jiangsu Siyang Economic Development Zone. Under the agreement, Talesun will build production lines for manufacturing PV cells and modules in the development zone. In terms of production capacity, the planned production lines will provide 5GW for cells and 5GW as well for modules. The agreement was made following friendly negotiation and is based on the principles of mutual benefit, good faith, equality, and voluntariness on both sides.
Headquartered in China, Zhongli manufactures a wide range of products including wires, cables, electric power equipment, polymer materials, optic fiber, and PV generation equipment. Talesun is its wholly-owned subsidiary and specializes in the manufacturing of PV modules. In recent years, Talesun has achieved significant successes in breaking into overseas markets including the US and Europe.
According to the latest update from Zhongli, Talesun has created a local subsidiary for the setup of the production lines in the development zone. The first phase of this capacity expansion project is the 5GW module production line. Zhongli reported that the construction of the module production line is already finished, and the first batch of large-size, high-efficiency modules has just rolled off the production line. The new production lines in Siyang are among the several expansion projects that Talesun will be undertaking this year. Zhongli stated that since this project started, Talesun’s technicians and engineers have been working hard to overcome various challenges and put the module production line into operation as scheduled.
Zhongli also said that the newly added production capacity in Siyang will help Talesun to step up its production of large-size, high-efficiency modules. The smart manufacturing technologies that are integrated into the new module production line enable a higher level of automation, thereby improving both the processing efficiency of the production line and the conversion efficiency of Talesun’s products. All in all, by investing in new production lines in Siyang, Talesun will be able to improve its technological capability and capture more market share. Strengthening Talesun’s position in the PV market, in turn, will be beneficial to Zhongli in terms of expanding production capacity for cutting-edge products, growing market share for new energy technologies, enhancing overall competitiveness, raising overall profitability, etc.
