Tesla In Talks To Purchase $2.9 Billion Worth Of Solar Equipment From Chinese Suppliers: Report

Tesla Inc. (NASDAQ:TSLA) is reportedly in discussions with several Chinese companies to acquire solar manufacturing equipment worth $2.9 billion. Suzhou Maxwell Technologies, a leading maker of screen-printing equipment for solar cell manufacturing, is among the top contenders to supply machinery for the project and is currently seeking export approval from China's commerce ministry, reported Reuters on Friday. Other potential suppliers include Shenzhen S.C New Energy Technology and Laplace Renewable Energy Technology. The $2.9 billion worth of equipment, including screen-printing production lines, will require export approval from Chinese regulators. However, the specifics of the equipment requiring approval and the duration of the approval process remain uncertain. Chinese suppliers have been asked to deliver equipment by autumn, some to Texas, for Elon Musk's planned solar capacity, which will mainly support Tesla, with a portion powering SpaceX satellites, as per the publication. Tesla did not immediately respond to Benzinga‘s request for comment. Tesla Targets 100GW US Solar Push This move is a part of Musk’s 100-gigawatt solar goal, which includes an active U.S. manufacturing push by exploring multiple sites to manufacture solar cells. The company had also considered expanding its Buffalo, New York, factory to increase capacity to about 10 gigawatts and discussed the possibility of constructing a second facility in New York in the long term. Tesla’s job listings also hint at the company’s objective to deploy 100 GW of “solar manufacturing from raw materials on American soil before the end of 2028”. Musk-Trump Policy Clash On Solar Elon Musk has called solar the "biggest source of power" as the AI industry searches for scalable energy solutions. He criticized U.S. tariffs for making solar deployment "artificially expensive," even as demand surges from AI data centers and manufacturing—drawing a sharp contrast with President Donald Trump's push to expand fossil fuels and scale back support for renewables. An October report by Deloitte says new U.S. tax changes under Trump’s One Big Beautiful Bill Act (OBBA) have rolled back clean energy incentives, putting pressure on early-stage wind and solar projects. Investments fell 18% to about $35 billion in early 2025, and solar program costs are expected to rise from 36% in 2025 to 55% in 2026, as tax credits phase out. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by a Benzinga editor. Image via Shutterstock