Apple is planning to launch a $300 million clean-energy fund in China alongside 10 of its regional suppliers, a show of commitment to the Chinese market during a time of high tension between Washington and Beijing over technology.
The China Clean Energy Fund will invest in projects to produce over 1 gigawatt of renewable energy in China, according to the Wall Street Journal, used to power operations of the 10 partnering investors, including Pegatron and Wistron, which both assemble iPhones. Apple’s largest partner, Foxconn, will not be taking part in the initiative.
China is currently Apple’s largest overseas market, contributing around 20% of the brand’s $229 billion global sales. The recent role of technology firms in trade disputes between the US and China, however, has led to fears that Apple could become a bargaining chip, with Chinese officials attempting to inhibit Apple’s sales in order to elicit concessions from the US in trade talks.