STMicroelectronics and Sanan Optoelectronics plan to set up a factory in Chongqing to produce key components for electric vehicles

Lansheng Technology News on June 7, European chip manufacturers STMicroelectronics and Sanan Optoelectronics said today that the two parties plan to establish a joint venture factory in Chongqing, China to manufacture 8-inch silicon carbide devices, which are mainly used in electric vehicles, industrial power and other energy fields.

The total cost of the new joint venture factory industry is expected to be approximately US$3.2 billion, of which US$2.4 billion is expected to be invested over the next five years. The plant is expected to start production in the fourth quarter of 2025 and be fully inaugurated in 2028.

STMicroelectronics CEO Jean-Marc Cherry said: "China is developing rapidly towards the direction of automotive and industrial electrification. This is a market where STMicroelectronics has already operated and has many important customers. Establish a dedicated partnership with important local partners. A manufacturing enterprise that can meet the growing demands of our customers in the most efficient way."

In the first quarter of this year, STMicroelectronics’ revenue reached US$4.25 billion, a year-on-year increase of 19.8%. Among them, the operating profit of the automotive products and discrete device product divisions increased by 145.3% year-on-year, which was very impressive.

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