Huawei shuts down Photovoltaic Inverter sales in the United States-Shanghai Metals Market

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Huawei shuts down Photovoltaic Inverter sales in the United States

Translation 08:27:38AM Jun 26, 2019 Source:Bloomberg News
The content below was translated by Tencent automatically for reference.

Huawei Technologies Co., Ltd. has stopped selling photovoltaic inverters in the United States, SMM News: Roth Capital Partners said in a research paper Monday. Huawei is one of the world's largest manufacturers of household solar power equipment, accounting for just 3 per cent of the market in the US, but has been pushing for expansion. Huawei's move comes months after members of Congress proposed banning Huawei from supplying photovoltaic inverters in the United States, saying they were concerned that the Chinese government could use them for espionage. In a statement, a Huawei spokesman said the company had laid off workers in the United States, but did not respond to whether it had terminated sales of photovoltaic inverters in the United States. Huawei spokesman Rob Manfredo said: "in the past few months, we have been forced to take steps to make our corporate strategy more in line with the unwelcome climate that the United States is developing." Huawei's entry into the US Inverter Market is seen as a threat to the two largest existing operators: SolarEdge Technologies Inc. And Enphase Energy Inc.. SolarEdge shares rose 3.8 per cent to $61.66 on Monday, while Enphase shares rose 3.7 per cent to $18.30.

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Huawei shuts down Photovoltaic Inverter sales in the United States

Translation 08:27:38AM Jun 26, 2019 Source:Bloomberg News
The content below was translated by Tencent automatically for reference.

Huawei Technologies Co., Ltd. has stopped selling photovoltaic inverters in the United States, SMM News: Roth Capital Partners said in a research paper Monday. Huawei is one of the world's largest manufacturers of household solar power equipment, accounting for just 3 per cent of the market in the US, but has been pushing for expansion. Huawei's move comes months after members of Congress proposed banning Huawei from supplying photovoltaic inverters in the United States, saying they were concerned that the Chinese government could use them for espionage. In a statement, a Huawei spokesman said the company had laid off workers in the United States, but did not respond to whether it had terminated sales of photovoltaic inverters in the United States. Huawei spokesman Rob Manfredo said: "in the past few months, we have been forced to take steps to make our corporate strategy more in line with the unwelcome climate that the United States is developing." Huawei's entry into the US Inverter Market is seen as a threat to the two largest existing operators: SolarEdge Technologies Inc. And Enphase Energy Inc.. SolarEdge shares rose 3.8 per cent to $61.66 on Monday, while Enphase shares rose 3.7 per cent to $18.30.

Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business