Tesla Purchases Chinese Photovoltaic Equipment? Multiple Manufacturers Respond "Wait for Official Disclosure"

Securities Times Reporter Liu Canbang

Elon Musk’s space photovoltaic story is still fermenting. On the morning of March 20, there were rumors that Tesla plans to purchase $2.9 billion (about 20 billion RMB) worth of photovoltaic manufacturing equipment from China, and Chinese companies negotiating with Tesla’s solar projects include Laplace and others. Subsequently, media verified this information with a certain photovoltaic company, which responded that the related contract scale is in gigawatts.

At noon on March 20, Securities Times reporters called multiple photovoltaic equipment companies to inquire whether they have relevant cooperation with Tesla. Most responded that they would refer to publicly disclosed information.

“Regarding Tesla and space photovoltaics, the market and regulators are paying close attention,” a person from a photovoltaic equipment manufacturer told reporters. The company has indeed received orders from North American clients, but due to commercial confidentiality and other requirements, they did not disclose specific client names. “If the order reaches the disclosure threshold, we will definitely fulfill our disclosure obligations. We must comply with relevant regulations, and we hope investors understand.”

Additionally, the reporter learned from relevant sources that Tesla has indeed researched domestic photovoltaic equipment suppliers for space energy supply for commercial rockets. Earlier identified research companies include a polysilicon reduction furnace supplier and an HJT battery equipment manufacturer.

According to Elon Musk’s statement at the Davos Forum earlier this year, Tesla and SpaceX will build 100 GW of photovoltaic capacity in the United States within three years. Against this backdrop, the A-share market experienced a wave of enthusiasm for space photovoltaics at the beginning of the year.

Since late last year, several listed companies have accelerated their layout in the space photovoltaic field. For example, Junda Co., Ltd. reached a strategic cooperation with Shangyi Optoelectronics, planning to invest in Shangyi Optoelectronics as a strategic shareholder. The two sides will deeply integrate industry and scene resources, focusing on the application of perovskite battery technology in space energy, and establish a collaborative mechanism in technology R&D, on-orbit verification, industrialization, and application scenarios.

In addition, Junda Co. also signed a “Capital Increase Agreement” and a “Shareholders’ Agreement” with Xingyi Xineng and related parties, including the company’s plan to invest 30 million RMB in cash to subscribe for 461,539 RMB of new registered capital of the target company, acquiring 16.6667% equity. The company plans to further establish a joint venture with Xingyi Xineng for the production of CPI membrane and crystalline silicon battery integrated products, and these matters are exclusive.

In related research, Junda Co. stated that space energy solutions are currently in a stage of rapid iteration and evolution, and no fixed technical or structural model has been formed. The industry mainly features small-scale, low-power personalized solutions. The company’s core plan is to lead the formulation of national and industry standards in perovskite and crystalline silicon tandem technology, aiming for global application once standards are established. At this stage, solving battery power and cost issues is critical. The company will leverage its strong technical accumulation and core advantages to support the large-scale implementation and commercialization of overall space energy solutions.

ST Jingji indicated during research that they believe space photovoltaics is an important and forward-looking application direction for perovskite technology. Its core needs are to make batteries lighter, thinner, and more flexible, and to withstand the extreme environment of space. The company has already made technical preparations in this direction, such as developing winding equipment for flexible production and vertical deposition equipment suitable for ultra-thin glass coating, to meet future space photovoltaic requirements for weight, foldability, and reliability.

ST Jingji also revealed that the company has successfully delivered photovoltaic module equipment to multiple clients in the North American market, including Chinese-funded enterprises with factories in the U.S., as well as Fortune 500 companies and well-known local photovoltaic manufacturers.

However, it should be noted that while photovoltaic manufacturers are rushing to ride the space photovoltaic fast track, regulators are also trying to cool down the concept, preventing hype from inflating stock prices. This information has been confirmed by sources from related companies. In fact, Shuangliang Energy Conservation has already been investigated for disclosure violations related to this matter.

(Edited by: Wang Zhiqiang HF013)

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