TCL Zhonghuan reveals plans to acquire majority stake in Maxeon
- Admin
- May 31, 2024
- 1 min read
TCL Zhonghuan plans to become a majority shareholder of Maxeon, a Singapore-based solar module manufacturer, by investing up to $197.5 million for a controlling stake of at least 50.1%. The investment includes convertible bonds and additional shares. Maxeon will then become a subsidiary of TCL Zhonghuan. The move comes amidst significant solar industry volatility. In response to lower shipments and industry-wide demand slowdown, Maxeon announced a plan to lay off 15% of its employees and focus on product innovation and market positioning.
Source:
Want to read more?
Subscribe to vitaliydaviy.wixsite.com to keep reading this exclusive post.
