STMicroelectronics and Sanan Optoelectronics Forge $3.2B SiC Manufacturing Joint Venture in China
Portfolio Pulse from Anusuya Lahiri
STMicroelectronics (NYSE: STM) and Sanan Optoelectronics have formed a $3.2 billion joint venture to manufacture silicon carbide (SiC) devices in Chongqing, China. The facility is expected to start production in Q4 2025 and reach full buildout by 2028, supporting the growing demand for car electrification and industrial power applications in China.
June 07, 2023 | 1:56 pm
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STMicroelectronics has formed a $3.2 billion SiC manufacturing joint venture with Sanan Optoelectronics in China, aiming to meet the growing demand for car electrification and industrial power applications.
The joint venture between STMicroelectronics and Sanan Optoelectronics will help both companies tap into the growing demand for SiC devices in China, particularly in the automotive and industrial power sectors. This partnership is expected to contribute to STMicroelectronics' revenue growth and strengthen its position in the SiC market. As a result, the stock price is likely to go up in the short term.
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