SEMP TCL, a Sino-Brazilian electronics joint venture, is looking to diversify into the photovoltaic sector, according to China’s Xinhua news agency.
Xinhua reported that Li Dongsheng, chairman of Chinese electronics giant TCL Group, met in Shenzhen last week with Afonso Brandão Hennel, the 94-year-old founder of Brazilian home appliances maker SEMP.
The two firms formed their Brazil-based joint venture in 2016. SEMP TCL-branded TV sets are among the top three sellers in Brazil.
Expansion into photovoltaic materials and devices is now on the cards. Prospects for the sector look good in Brazil. The world’s sixth most populous country is set to become a major solar market by 2026.
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The enhanced collaboration comes amid a booming economic relationship between China and Brazil.
A recent study by the Brazil-China Business Council (CEBC) concluded that Brazilian exports to China could grow by more than 75 per cent by 2030, hitting US$103.4 billion.
Trade is expected to feature high on the agenda during a visit to Beijing by Brazil’s President Luiz Inacio Lula da Silva in March.
“China presents the greatest opportunity for Brazilian companies to establish partnerships,” Hennel told Xinhua.
“The business opportunities between China and Brazil are growing tremendously.”
