China¡¯s clean technology titans, hungry for export markets to boost flagging profits, aren¡¯t letting a crisis go to waste. Manufacturers of electric vehicles, batteries and solar panels have been wooing nations looking to wean themselves off costly fuel imports since the Iran war triggered a global energy shock.
One of the country¡¯s largest solar manufacturers, Jinko Solar Co., inked two deals at the end of April with partners in Nigeria ¡ª in a region where diesel prices have soared 40% since the start of the crisis ¡ª while auto manufacturers are hunting avenues to extend sales into locations including Europe, and energy storage firms are lifting overseas shipments.
¡°Chinese manufacturers are catching an export tailwind from this worldwide rush, which is helping to support their prices in overseas markets,¡± said Chia Chen, an analyst at Bloomberg Intelligence (BI).
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