TOYO Co., Ltd Announces Plans for a 2 GW Solar Cell Manufacturing Facility in Ethiopia
TOYO Co., Ltd - Ordinary Shares (TOYO)
Company Research
Source: PR Newswire
TOKYO, Oct. 14, 2024 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, is excited to announce its plan to establish a state-of-the-art solar cell manufacturing facility with an expected annual capacity of 2 gigawatts (GW). The Company has signed a lease agreement for the new facility that is strategically located in Hawassa, Ethiopia, taking advantage of the country's favorable investment policies, tariff status, and ample hydropower supply.The project represents an estimated investment of $60 million and will be financed using internal resources and pre-payments.TOYO expects to begin fitting out the new plant in November 2024, with the new factory anticipated to start production at the end of the first quarter of 2025. TOYO has selected a 31,500 m2 facility in Hawassa that will be modified to meet the needs of a modern, automated cell production. Once complete, TOYO estimates the new facility will create up to 880 jobs, including manufa
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TOYO
News
- TOYO Co., Ltd Updates on 2024 Performance, Announces Preliminary Guidance for 2025 [Yahoo! Finance]Yahoo! Finance
- TOYO Co., Ltd Updates on 2024 Performance, Announces Preliminary Guidance for 2025PR Newswire
- TOYO Co., Ltd Announces Appointment of Liang "Simon" Shi as PresidentPR Newswire
- TOYO Co., Ltd to Exhibit at Renewable Energy India Expo 2024 [Yahoo! Finance]Yahoo! Finance
- TOYO Co., Ltd to Exhibit at Renewable Energy India Expo 2024PR Newswire
TOYO
Sec Filings
- 11/20/24 - Form 6-K
- 11/14/24 - Form SC
- 10/15/24 - Form 6-K
- TOYO's page on the SEC website