Shares of Goldwind, one of China's leading wind turbine manufacturers, surged by 8.14% on Thursday, October 18th, 2024, amid reports that major industry players have agreed to end the long-standing price war that has plagued the sector.
According to the South China Morning Post, Goldwind, along with other prominent wind turbine makers like Envision and Mingyang Smart Energy, have pledged to improve self-discipline in pricing their products. The companies acknowledged that the persistent price war had hurt everyone's business and decided to take a more rational approach, considering the life cycle of the turbines.
China is a global powerhouse in the wind energy industry, with an installed wind capacity of 76 gigawatts (GW), accounting for two-thirds of the world's total. The move to end the price war is seen as a positive step towards restoring profitability and sustainable growth in the sector.
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