The 2024 edition of the Beijing Summit of the Forum on China-Africa Cooperation took place in early September and, as the world’s largest module producer, JinkoSolar was the only solar company invited to deliver a speech.
The company’s recent big move of partnering with the PIF Public Investment Fund and VI (Vision Industry Company) to establish its fourth overseas factory in Saudi Arabia symbolised a significant engagement amid the evolving overcapacity and energy rivalry.
This breakthrough not only marks a pivotal moment for JinkoSolar, but also highlights its response to overcapacity and increasing market accessibility questions for made-in-China products, the company’s deliberate and pragmatic overseas manufacturing investment aligning its globalization strategy with market dynamics.
Chinese manufacturers are actively pursuing global expansion, but providing adequate support for products sold overseas presents increasing challenges. Without local services and manufacturing, ensuring customer and policy satisfaction becomes difficult and establishing maintenance centres, factories and supply chains in target markets is essential.
In that context, Jinko’s partnership with the PIF and VI enhances its localization capabilities and resources, fulfilling government requirements. Saudi Arabia’s willingness to expand market access to the company also signals a notable stride toward enhanced international cooperation.