TCL Targets Heat Pumps as Part of Broader HVAC Expansion
China: TCL Electronics is positioning heat pumps as a key growth area as it moves towards acquiring control of TCL Air Conditioner in a proposed US$ 0.7 billion (HK$5.61 billion) transaction. The deal would give TCL Electronics control of 51% of the China-based HVAC business, which sold more than 22 million units in 2025 and has over 38 million units of annual production capacity. TCL plans to expand beyond residential air conditioning into heat pumps and commercial HVAC, supported by its international distribution network. The company already markets R290 and R32 air-to-water heat pumps across Europe, with dedicated teams and distributor networks in several markets. The transaction is expected to complete in Q4 2026, subject to shareholder approval.
Source: Heat Pump News
