China’s Wingtech builds $2bn EV-geared plant amid chip shortage

chinas wingtech builds 2bn ev geared plant amid chip shortage

Sumary of China’s Wingtech builds $2bn EV-geared plant amid chip shortage:

  • TOKYO/BEIJING — Chinese electronics manufacturer Wingtech Technology will invest 12 billion yuan ($1.8 billion) to build a factory that makes semiconductors for electric vehicles in Shanghai, moving to produce a key component domestically amid a global chip supply crunch..
  • The market for discrete semiconductors will expand to $28.5 billion in 2024, according to British research firm Omdia, up 14% from last year….

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