The Kitchener, Ont.-based company, a major battery and solar panel manufacturer, said it would create a new joint venture CS PowerTech with its existing Chinese unit. As part of the arrangement, Nasdaq-listed Canadian Solar will retain a controlling stake in the venture, and will acquire 75.1 per cent of the Chinese subsidiary’s overseas factories for US$50 million. (The Logic)

Talking point: Canadian Solar, which Chinese-Canadian entrepreneur Shawn Qu founded in 2001, is one of the world’s largest solar operators and manufacturers, with more than 50 gigawatts of solar capacity across more than 20 countries. (By comparison, Canada’s entire grid capacity was 149 gigawatts in 2021.) The deal shows the extent to which companies are reshaping their manufacturing capacity amid U.S. President Donald Trump’s trade war with China. The Trump administration has levelled punishing tariffs on Chinese-made clean energy and battery technology in an effort to attract manufacturing capacity back to the U.S. On Monday, Canadian Solar said the asset transfer reflects its “commitment to its North American home base.”

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