Changzhou manufacturing glass PV tiles for Tesla

• The Chinese listed company had to confess it was manufacturing glass photovoltaic roof tiles for Tesla. The confession was forced by major share price fluctuations.

The Chinese photovoltaic glass coating producer has announced that its stock price increased by over 20 percent over three days (Jan 6-8).

The firm has confirmed being Tesla’s qualified supplier, but disclaimed the rumors on supplying glass for Tesla’s e-vehicles made at its new Shanghai-based plant. 

The manufacturer has emphasized that currently it is supplying only small amounts of products to Tesla. Thus, in the previous year, the product supply to Elon Musk’s auto maker constituted only 7 percent of Changzhou Almaden’s total income.

According to Changzhou’s financial report, its revenue amounted to about 74.56m USD in the 1st half of 2019. Later, Q3 2019 report was published, showing the figures of around 43.09m USD. 

The firm’s earning guidance is yet to be released. As for full year 2029 report, it is scheduled to be posted by late April.

Apart from Panasonic’s NY state-based Gigafactory 2, there are a few Singaporean and Chinese photovoltaic module manufacturers, supplying their solar devices for Tesla’s commercial and residential rooftop-mount solar projects.