TOYO Co., Ltd Announces Plans for a 2 GW Solar Cell Manufacturing Facility in Ethiopia

TOKYO, Oct. 14, 2024 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) ("TOYO" or the "Company"), a solar solution company, is excited to announce its plan to establish a state-of-the-art solar cell manufacturing facility with an expected annual capacity of 2 gigawatts (GW). The Company has signed a lease agreement for the new facility that is strategically located in Hawassa, Ethiopia, taking advantage of the country's favorable investment policies, tariff status, and ample hydropower supply.

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