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STMicroelectronics Sets up Partnership with HUA HONG SEMI; CEO: CN Mkt Cannot be Given up
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STMicroelectronics, the world's largest producer of silicon carbide wafers for electric vehicles (EVs), announced a partnership with HUA HONG SEMI (01347.HK), noting that setting up production in China is essential to its competitiveness. The company is working with HUA HONG SEMI, China's second-largest custom wafer maker, to produce 40-nm microcontroller wafers in Shenzhen by the end of 2025. Jean-Marc Chery, STMicroelectronics's CEO, opined that China is the biggest and most innovative market for EVs and is indispensable, and that it is not possible to compete by manufacturing outside the country. He said that giving up China's market share would result in its rivals monopolizing the local market. As China's domestic market is enormous, it is an excellent platform to wrestle with other countries. He added the company is applying operations and technologies learned from the Chinese market to the Western market, and that the story of bringing Western technologies to China is over. AAStocks Financial News |
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