Vestas share price suges on news of Chinese rivals’ pricing pact
Vestas shares were sent to the top of Nasdaq Copengahen on Wednesday afternoon after several big Chinese wind turbine manufacturers formed a united front to stop the price war in the wind turbine market.
At 2 p.m. Wednesday, Vestas’ share price was 2.4% higher at DKK 128.60 (EUR 17.23), up from DKK 126 before MarketWire, with reference to Bloomberg News, reported that 12 of Vestas’ major Chinese rivals have signed a pact to stop the price war that has hit both earnings and quality.
Among the signatories of the pact on Wednesday are big names in the wind turbine market, including as Goldwind, Envision, Mingyang, Shanghai Electric and Dongfeng Electric.
“We should keep in mind the full life-cycle costs, including maintenance for…
