Energy storage factory shutdown notice

Will SolarEdge Technologies close energy storage division?

SolarEdge Technologies will close Energy Storage division, resulting in workforce reduction of ~500 employees, mostly in South Korea.

Will the company sell assets related to the storage division?

The Company intends to sell the assets related to the storage division activities including its manufacturing facilities for battery cells and packs. This does not impact the solar business sale of batteries for residential and C&I markets.

Why are photovoltaic factories closed in Southeast Asia?

It is understood that the important background for the closure of photovoltaic factories in Southeast Asia is the expiration of the exemption from anti-circumvention investigations by the United States.

Does Longi Green Energy have a lay-off notice?

In addition, there are rumors that LONGi Green Energy's Xi Xian branch has issued a notice offering three options for laid-off employees to choose from - resignation and compensation of N+1; or a monthly payment of 2150 yuan * 75%, waiting for notice to work again when needed; or continue to work and take turns on leave.

When does the tax-free policy for photovoltaic products end?

According to the White House document, the tax-free policy for some photovoltaic products imported from Cambodia, Malaysia, Thailand, and Vietnam since June 2022 will end after it expires on June 6th this year.