(Bloomberg) -- JinkoSolar Holding Co., a Chinese manufacturer of solar panels, is spending $500 million to build a facility in Vietnam to shift some production of components out of China.
The announcement comes after JinkoSolar confirmed that the U.S. halted some panel imports as the Biden administration cracks down on alleged labor abuses in China's Xinjiang region, where almost half of the world's supply of solar-grade polysilicon comes from.
The new facility is expected to be operational in the first quarter of 2022 and have an annual capacity of 7 gigawatts. It will produce panel components including ingots and wafers.
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