STMicroelectronics, Sanan Optoelectronics to form $3.2B China joint venture
By Adria Calatayud STMicroelectronics and Sanan Optoelectronics said Wednesday that they are forming a semiconductor-manufacturing joint venture in China, with $3.2 billion in total build-out funding.
The European and Chinese semiconductor companies said they have signed an agreement to create a silicon-carbide-device manufacturing project in Chongqing, China, to tap into rising demand for semiconductors for car electrification as well as for industrial power and energy applications in the country. Production is expected to start in the fourth quarter of 2025, with full build-out anticipated in 2028, the companies said.
The expected $3.2 billion for the full build-out of the joint venture includes capital expenditures of about $2.4 billion over the next five years, which will be funded by contributions from STMicroelectronics and Sanan Optoelectronics, support from the local government and loans, the companies said.
Sanan will separately build a silicon-carbide-substrate manufacturing plant to fulfill the needs of the joint project, the companies said. Completion of the project remains subject to regulatory approvals, STMicroelectronics and Sanan said.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Tesla China-Made EV Wholesale Sales Increased In May 2023Sales of Made-in-China (MIC) Tesla Model 3/Model Y electric cars in China and exports from China remain very stable this year.
Lire la suite »
China, Russia launch joint air patrol, alarms South KoreaChina and Russia conducted a joint air patrol on Tuesday over the Sea of Japan and East China Sea for a sixth time since 2019, prompting neighbouring South Korea and Japan to scramble fighter jets.
Lire la suite »
US, China join naval drills in Indonesia despite tensionsUS Navy sends a littoral combat ship to the joint exercise while China earlier announced that it will send a destroyer and a frigate at the invitation of the Indonesian navy.
Lire la suite »
China's May imports to fall again, exports slip into red: Reuters pollChina's imports are expected to have contracted in May, despite a low base last year as a lockdown in Shanghai brought the country's biggest port to a standstill, while exports likely fell for the first time in three months, a Reuters poll showed.
Lire la suite »
China defends close approach to American warship in Taiwan StraitChina said it was responding to a provocation when one of its ships approached a patrol in international waters. MORE ⬇️
Lire la suite »
U.S. and China trade barbs at top security summit as Taiwan Strait tensions simmerChina and U.S. defense chiefs trade barbs at Asia's leading defense summit after Beijing rejects meeting offer.
Lire la suite »