Shares of Chinese solar panel makers surged Wednesday. Staff linked to Elon Musk had reportedly visited several photovoltaic suppliers in China. The reports had fueled speculation for potential business partnership. In this article CREATE FREE ACCOUNT A car travels past photovoltaic panels at the Al Dhafra Solar project, constructed by Electricite de France SA (EDF) and Jinko Power Technology Co. Ltd., in Abu Dhabi, United Arab Emirates, on Tuesday, Jan 31, 2023. Christopher Pike | Bloomberg | Getty Images Shares of Chinese solar panel makers surged Wednesday after local media reported that staff linked to Elon Musk had recently visited several photovoltaic suppliers in China, sparking speculation that a high-profile customer could boost demand for advanced products. The reports fueled talk of a potential business partnership and came days after Musk said he planned to build large-scale solar cell production capacity in the U.S. Shares of China-based JinkoSolar , one of the world's largest panel producers, jumped as much as 20% in early trade, hitting their daily limit, according to LSEG data. Jolywood Suzhou Sunwatt, which makes photovoltaic auxiliary materials, also saw its shares jump 20%. Other solar panel makers, including Trina Solar and Shenzhen Topraysolar, gained 8.9% and 10%, respectively. The CSI All Share Solar Power Equipment Sub-Industry Index rose 6.8%. Stock chart icon According to local media reports, a team sent by Musk recently visited several photovoltaic companies in China, including those involved in equipment manufacturing, silicon wafers, battery modules and perovskite technology. The visitors appeared most interested in suppliers developing heterojunction and perovskite technologies — next-generation approaches that aim at improving cell efficiency. Perovskites could eventually lower costs if manufacturing challenges are resolved.