Maxeon Solar Technologies, Ltd. (MAXN), Tuesday announced a strategic restructuring plan, shifting its focus primarily on the U.S. market.
As part of the plan, the Singapore-based company leased an existing building in Albuquerque, New Mexico for five years to begin solar panel manufacturing in this 2 GW capacity facility in early 2026.
Also, Maxeon has agreed to sell its EMEA, APAC and LATAM sales and marketing organization to TCL Technology Group, including the company's Philippines manufacturing operations.
The company expects to enter into a definitive agreement with TCL Group by the end of 2024.
During the pre-market hours, Maxeon's stock is trading at $9.64, up 20.81 percent on the Nasdaq.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.