Sinovel has scrapped plans to buildfour factories, introduced cuts at three others and reduced funding forR&D, according to Bloomberg, which cited a stock exchange filing.

The measures are said to be designed to lead tosavings of up to 2.6bn yuan ($424m).

Sinovel in January warned it expects its 2013 net loss to balloon to 3bn yuan.

The company – formerly China’s largest supplierof wind turbines and at one point the global number-two – has faced a string ofproblems over recent years, including falling market share, managerialupheavals, regulatory probes and legal action by former supplier AMSC.