Sanan and STMicroelectronics to invest $3.2B in EV chip JV in Chongqing

Sanan Optoelectronics and STMicroelectronics have agreed to jointly invest $3.2 billion in a joint venture to produce silicon carbide devices for electric vehicles at a new plant in Chongqing, China. Sanan will also build a separate CNY 7 billion SiC substrate plant in Chongqing.

“The establishment of this JV will be a major driving force for the wide adoption of SiC devices on the Chinese market.”yicaiglobal.com

• 1 source
• yicaiglobal.comSanan, STMicroelectronics to Invest USD3.2 Billion in China EV Chipmaking ProjectWang ZhenJun 8, 2023

Summarized from public sources; check the original articles before acting on it.