BUSINESS

Musk’s Team Sparks Stock Rally After Touring Chinese Solar Firms

By Luo Guoping, Zhao Xuan and Wang Xintong

Published: Feb. 5, 2026 6:56 p.m. GMT+8

00:00

00:00/00:00

Listen to this article 1x

At the World Economic Forum in Davos in mid-January, Elon Musk announced that Tesla and SpaceX plan to achieve an annual solar manufacturing capacity of 100 gigawatts within three years. Photo: IC Photo

Representatives for Elon Musk recently toured major Chinese solar manufacturing facilities to evaluate capacity and technology for the billionaire’s ambitious energy plans, triggering a sharp rally in the sector’s stocks.

On Wednesday, shares of Jinko Solar Co. Ltd. (688223.SH) and Jolywood (Suzhou) Sunwatt Co. Ltd. (300393.SZ) soared 20% at one point to their daily limits. Other industry heavyweights, including Trina Solar Co. Ltd. (688599.SH), JA Solar Technology Co. Ltd. (002459.SZ), TCL Zhonghuan Renewable Energy Technology Co. Ltd. (002129.SZ) and Longi Green Energy Technology Co. Ltd. (601012.SH), posted gains ranging from 3% to 10%.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.

Share this article

Open WeChat and scan the QR code

DIGEST HUB

Digest Hub

Back

Explore the story in 30 seconds

Elon Musk's team toured major Chinese solar firms, triggering a surge in related stocks, and focused on next-gen technologies like heterojunction and perovskite cells.
China accounts for ~90% of global photovoltaic supply chain output; Musk aims for 100 GW annual solar capacity within three years for Tesla and SpaceX.
Experts note commercial space solar is still far off; new U.S. policies under President Trump ended solar tax credits, adding uncertainty for Chinese manufacturers.

AI generated, for reference only

Who’s Who

Jinko Solar Co. Ltd.: Jinko Solar Co. Ltd. (688223.SH) is a major Chinese solar manufacturer. Its shares saw a significant 20% surge due to reports that Elon Musk's representatives toured Chinese solar facilities, evaluating their capacity and technology. This interest stems from Musk's plans to achieve 100 gigawatts of annual solar manufacturing capacity for Tesla and SpaceX.

Jolywood (Suzhou) Sunwatt Co. Ltd.: Jolywood (Suzhou) Sunwatt Co. Ltd. is a Chinese solar manufacturing company whose shares soared 20% to daily limits after news broke that Elon Musk's representatives toured major Chinese solar facilities. The company, trading under the stock code 300393.SZ, was likely evaluated for its capacity and technology by Musk's team, who focused on firms utilizing heterojunction and perovskite technologies for enhanced solar cell efficiency.

Trina Solar Co. Ltd.: Trina Solar Co. Ltd. (688599.SH) is a Chinese solar company whose stock saw gains ranging from 3% to 10% following news of Elon Musk's representatives visiting Chinese photovoltaic companies. Musk's team evaluated facilities and technology, showing particular interest in next-generation solar innovations.

JA Solar Technology Co. Ltd.: JA Solar Technology Co. Ltd. (002459.SZ) is a Chinese solar company. Its shares saw a significant increase, gaining between 3% and 10%, following news that Elon Musk's team visited major Chinese photovoltaic facilities to assess capacity and technology for his energy plans.

TCL Zhonghuan Renewable Energy Technology Co. Ltd.: TCL Zhonghuan Renewable Energy Technology Co. Ltd. (002129.SZ) is a Chinese solar manufacturing company. Shares of TCL Zhonghuan posted gains ranging from 3% to 10% after news broke that Elon Musk's representatives toured major Chinese solar manufacturing facilities to evaluate capacity and technology. Musk's team particularly focused on firms using heterojunction and perovskite technologies.

Longi Green Energy Technology Co. Ltd.: Longi Green Energy Technology Co. Ltd. (601012.SH) is an industry heavyweight in the solar sector. Their stocks saw gains ranging from 3% to 10% following news of Elon Musk's team touring Chinese solar facilities. A Longi source commented that commercialization of large-scale space solar requires further technical breakthroughs, and the company is monitoring the U.S. solar market's policy direction.

GCL (Group) Holdings Co. Ltd.: GCL (Group) Holdings Co. Ltd. (协鑫（集团）控股有限公司) was contacted by Musk's team regarding its granular silicon and perovskite operations in the U.S. This inquiry aligns with Elon Musk's ambitious energy plans for Tesla and SpaceX to achieve 100 gigawatts of annual solar manufacturing capacity within three years.

Tesla Inc.: Tesla Inc. plans to achieve an annual solar manufacturing capacity of 100 gigawatts within three years to power ground-based data centers and space-based AI satellites. Elon Musk's team has been evaluating Chinese solar manufacturers, focusing on next-generation technologies like heterojunction and perovskite. This initiative aligns with goals Musk outlined at the World Economic Forum, despite a challenging US policy environment under President Donald Trump and Tesla's mixed past in solar manufacturing.

SpaceX: SpaceX, co-founded by Elon Musk, plans to achieve an annual solar manufacturing capacity of 100 gigawatts within three years, alongside Tesla Inc. This energy is intended to power space-based AI satellites and ground-based data centers. Musk's team has been assessing Chinese solar facilities to evaluate their technology and production capabilities for these ambitious energy plans.

Zhejiang Jingsheng Mechanical & Electrical Co. Ltd.: Zhejiang Jingsheng Mechanical & Electrical Co. Ltd. (300316.SZ) issued a warning in a stock exchange filing. Despite high investor interest in space-based solar technology, the company cautioned that it remains an exploratory field with uncertain timelines for industrialization.

SolarCity: Tesla acquired SolarCity for $2.6 billion in 2016. However, its gigafactory in New York struggled with production, and Elon Musk's goal of installing 1,000 solar roofs per week has not been met.

AI generated, for reference only