Chinese clean‑tech manufacturers are beginning to benefit from the supply crunch in the Persian Gulf, as rising oil and natural gas prices and a renewed emphasis on energy security boost demand for batteries and electric vehicles.
More than six weeks after U.S. and Israeli strikes on Iran effectively shuttered the Strait of Hormuz, customers hoping to shield themselves from the extra costs are increasingly turning to greener solutions.
Ningbo Deye Technology, a major producer of energy storage systems and inverters, said last week it expects first-quarter profit to climb as much as 70% on a surge in overseas orders. Meanwhile, exports of Chinese-made electric vehicles and hybrids more than doubled in March to a record 349,000 units, as higher fuel prices renew the appetite for alternatives to gasoline-powered cars.
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