At least there are a lot of electric cars being produced here.
According to Reuters, Jean-Marc Chery, CEO of the French-Italian chip manufacturer STMicroelectronics, said at the Citi technology conference in London that he believes it is important for the company to maintain access to the Chinese market, since here it can sell components for electric vehicles and new generation power plants. The management of STMicroelectronics is not particularly concerned about the intentions of Chinese chip manufacturers to increase production.
Image source: STMicroelectronics
On the one hand, this is a certain risk for the company, and on the other hand, it is an opportunity, as a representative of STMicroelectronics emphasized. In China, in particular, the company will develop not only the production of chips on its own, but also in collaboration with local partners. Currently, Chinese clients account for 15% of this European company's revenue. Silicon carbide components will be in high demand in the Chinese market as they are in demand in the production of electric vehicles. For this reason, STMicroelectronics believes it is important to strengthen its presence in the Chinese market.