Core Viewpoint - TOYO Co., Ltd has announced the acquisition of Solar Plus Technology Texas LLC to accelerate its plans for manufacturing solar modules in the U.S., with an initial capacity of 2.5 gigawatts [1][2][3]. Group 1: Acquisition Details - TOYO will acquire 100% of the membership interests in Solar Plus, located in the Houston metropolitan area [1][3]. - The acquisition is part of TOYO's strategy to establish a manufacturing footprint in the U.S., complementing its existing operations in Vietnam and Ethiopia [3][4]. - TOYO Holdings LLC will contribute $19.96 million to TOYO Solar LLC for the Phase 1 construction of the manufacturing site [3]. Group 2: Facility and Production Plans - The newly leased facility spans 567,140 square feet and is designed to accommodate 2.5 GW of solar module manufacturing capacity, with plans to expand to 6.5 GW by 2029 [2]. - The first 1 GW production is expected to commence by mid-2025, with an increase to 2.5 GW anticipated by the end of 2025 [2]. - The facility aims to meet the growing demand for American-made solar panels and contribute to sustainable energy solutions [2][4]. Group 3: Strategic Impact - The acquisition aligns with TOYO's mission to be closer to its U.S. clients and to address the demand for secure and sustainable energy solutions [2][4]. - The company aims to leverage its manufacturing excellence and established customer relationships to enhance its competitive advantage in the U.S. market [4]. - TOYO is committed to building a robust global solar supply chain that efficiently serves the U.S. market [3][4].

TOKYO, Nov. 18, 2024 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, today provided an update on its anticipated business performance for the full year 2024, and announced preliminary guidance for 2025, reflecting the Company's ongoing commitment to growth and innovation in the renewable energy sector.  2024 Performance Updates: Projected Shipments: Cell shipments are expected to reach 1.7-1.8 GW in 2024, representing a slight decrease from the previously an ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 Title of each class Trading Symbol(s) Name of exchange on which registered Ordinary shares, par value $0.0001 per share TOYO The Nasdaq Stock Market LLC FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended ____________ OR ☐ TRANSITION REPORT PURSUANT TO SEC ...