Midea Reports Surge in AC Orders as Europe Heatwave Continues
Midea, a Chinese manufacturer of appliances, has experienced a surge in demand for air conditioners across Europe due to persistent heatwaves. Within just one month, its factories in Wuhu and Guangzhou received orders totaling 200,000 units. To address this influx, Midea launched a new production line at its Wuhu facility on July 7, producing 20,000 units in just three and a half days, with the first delivery to France occurring within a week. The company highlighted that many European cities impose restrictions on exterior modifications for AC units due to historic preservation laws, but its PortaSplit model features a window bracket to facilitate installation without permanence. This information was shared on the Shenzhen Stock Exchange's investor Q&A platform on Wednesday.
Key facts
- Midea reported 'explosive demand' for air conditioners in Europe.
- Two factories in Wuhu and Guangzhou received orders for 200,000 units in a month.
- A new production line opened at Wuhu factory on July 7.
- 20,000 units were manufactured in three and a half days.
- First shipment to France occurred within seven days.
- Many European cities restrict exterior-wall modifications for AC units.
- Midea's PortaSplit uses a window bracket to avoid permanent installation.
- Announcement made on Shenzhen Stock Exchange's investor Q&A platform.
Entities
Institutions
- Midea
- Shenzhen Stock Exchange
Locations
- Wuhu
- Guangzhou
- Foshan
- Guangdong
- France
- Europe
- Anhui
- China
- Stuttgart
- Germany