Hanwha Q Cells denies market exit and shifts European unit to R&D

Solar manufacturer Hanwha Q Cells has denied industry rumors of a market exit and confirmed that it is restructuring its European operations around research and development. According to reports from PV Magazine, pv magazine Global, and IndexBox, the company is reorienting its business activities across the continent. PV Magazine reported that the restructuring will lead to staff reductions in sales and business development divisions. [1][2][3]

While sales positions are being reduced, Hanwha Q Cells plans to expand its research and development workforce in Germany, as PV Magazine reported. Qcells was originally founded in 1999 in Bitterfeld-Wolfen, Germany, where it maintained its engineering offices before being purchased out of bankruptcy in August 2012 by the South Korean conglomerate Hanwha Group. The manufacturer now operates as a subsidiary of Hanwha Solutions, which oversees the group energy and petrochemical business. [1][4]

The reorganization allows the company to retain its technical base in Germany despite scaling back direct commercial units. IndexBox and PV Magazine confirmed that the manufacturer officially rejected speculations regarding a complete withdrawal from the solar market, opting instead to focus its local resources on technological innovation. [1][3]