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STMicroelectronics CEO says China is a growth market despite US chip war

Economic Times · 1y ago

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Despite increasing tensions between the US and China over semiconductors, French-Italian semiconductor company STMicroelectronics remains committed to the Chinese market. CEO Jean-Marc Chery expressed confidence in the company's growth prospects in China, particularly in areas such as electric vehicles, digital power controls, and renewable energy. STMicroelectronics sees the investment by Chinese chipmakers as both a risk and an opportunity, but believes its strategy of local production and joint ventures will ensure continued growth. Currently, China accounts for 15% of the company's revenue, and they expect further penetration in the Chinese market, especially in silicon carbide technology.