Local media reports state that TCL, the Chinese technology major which acquired TZS last year, confirmed at a recent industry event that it is to establish a solar cell facility in Malaysia through a joint venture with TZS in a bid to accelerate its globalisation.
No specific details of the facility were, however, provided at the event.
Speaking at the 2021 Forum of Transformation, Upgradation and Globalisation of Chinese Enterprises event, TCL chairman Dongsheng Li spoke of the company’s transformation from a consumer electronics company to one which focused on a broader set of technologies, including global manufacturing and R&D.
Li added that TZS had responded to market conditions to target a leading position in the renewables materials market, aided by parent company TCL’s globalisation initiatives and upgrades to its product technology and manufacturing capacity.
Last month TZS confirmed that its H1 operating income more than doubled year-on-year to RMB17.6 billion (US$2.72 billion), leading to a 160% surge in net profit to RMB1.89 billion (US$292 million).
Those results came on the back of a steady ramp-up of TZS’ wafer manufacturing capacity, which itself was built around a ramp of G12 210mm x 210mm solar wafers. Earlier this week in response to questions from investors, TZS revealed that it produced 5.5GW of G12 wafers in the second quarter, a 23% increase on the 4.5GW produced in Q1 2021.
TZS’ total mono wafer capacity stood at 70GW as of 30 June 2021, more than half – 56% – is of the G12 wafer size. Furthermore, TZS has laid claiming to leading the market in G12 wafers, stating that its market share exceeded 90% in the first half of the year.