Core Insights - TOYO Co., Ltd has commenced production at its new facility in Ethiopia, aiming to deliver over 80 MW of solar cells by the end of April 2025 [1] - The Ethiopian plant is expected to reach full operational capacity of 150 to 200 MW per month by May and June 2025, with plans to expand nameplate capacity to 4 GW due to strong customer demand [2][4] - The establishment of the Ethiopian facility is part of TOYO's strategy to diversify manufacturing locations and enhance its global solar manufacturing footprint [3] Company Strategy - TOYO aims to become a full-service solar solutions provider, integrating various stages of the solar power supply chain, including upstream production of wafers and silicon, midstream production of solar cells, and downstream production of photovoltaic modules [4] - The company is optimistic about the strong market demand and is working on an additional 2 GW expansion in Ethiopia, indicating a significant growth trajectory for 2025 [4] Market Position - The new facility in Ethiopia supports TOYO's commitment to sustainable energy solutions and positions the company to meet the increasing global demand for renewable energy [3][4]
TOYO Commences Production in its 2GW Solar Cell Facility in Ethiopia