STMicroelectronics shares are trading higher after the company announced a joint venture with Sanan Optoelectronics to create a new 200mm silicon carbide device manufacturing in Chongqing, China.
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STMicroelectronics announced a joint venture with Sanan Optoelectronics to establish a new 200mm silicon carbide device manufacturing facility in Chongqing, China.
June 07, 2023 | 2:54 pm
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STMicroelectronics shares are trading higher after announcing a joint venture with Sanan Optoelectronics for a new manufacturing facility in China.
The joint venture between STMicroelectronics and Sanan Optoelectronics is expected to have a positive impact on STM's stock price in the short term. The new manufacturing facility will expand the company's production capabilities and potentially increase its market share in the silicon carbide device industry.
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