Japan’s Toyo Corporation is set to build a solar cell factory in Ethiopia, aiming to bypass U.S. tariffs and supply its upcoming solar module plant in the United States.
CEO Junsei Ryu highlighted that the factory is part of Toyo’s broader strategy to diversify its supply chain and expand its global market presence in solar solutions.
Currently, Toyo manufactures its solar products in Vietnam, but this new $60 million investment will shift some of its operations to Ethiopia.
The facility is expected to create around 880 jobs and begin operations by 2025.
The move comes in response to U.S. tariffs on solar equipment from Malaysia, Vietnam, Thailand, and Cambodia, which were implemented due to claims that subsidies in these countries are affecting domestic green energy production.
