Apple Launches $150 Million Clean Energy Fund in China

Cupertino-based Apple Inc. has announced a significant milestone, revealing that over 90% of its manufacturing in China now utilizes renewable energy. This achievement, driven by collaboration with over 100 suppliers, marks steady progress toward Apple's 2030 goal of powering all its products with clean energy. Building on this progress, Apple announced the launch of a new investment fund by its suppliers to bolster China's renewable energy infrastructure. The "China Clean Energy Fund," with a total scale of 1 billion RMB ($150 million), is entirely led by Apple's supply chain partners. It aims to add 1 million megawatt-hours of clean electricity to China's grid by 2030. The fund was initiated by CICC Capital and Huaneng Investment, with battery supplier ATL as an anchor investor. Key Apple suppliers like Avary Holding, Dongshan Precision, Foxconn, and Yuto Technology have also invested. "Our suppliers in China are making impressive strides in their transition to clean energy, and we are proud to partner with them in this critical work," said Sabih Khan, Apple's Chief Operating Officer.