News Article
QSolar Opens Manufacturing In China
QSolar opens its own manufacturing facilities in Shanghai
QSolar Limited announced that it has commenced its own manufacturing and research and development operations in Shanghai, China. The Company has leased facilities and hired a workforce to initially manufacture one pilot line with an annual production capacity of 15 megawatts (MW) of QSolar's Kruciwatt product line. The near term objective for this manufacturing facility will be 150 MW per year.
The Company will continue to manufacture its solar Photovoltaic (PV) panels under a contract manufacturing agreement that is currently in place with a Chinese manufacturing company.
"The opening of our own manufacturing facility in China is an important development for QSolar because it will allow us to reduce our manufacturing costs by 25%", commented Andreas Tapakoudes, President & CEO of QSolar. "Our own facilities will also enable us to better protect our Kruciwatt manufacturing process that is driving the costs of the Company's panels to the point of grid parity".
