SAIC Motor Corp stated on its official WeChat account that the fund may even look to put money into automotive electronics start-ups and can later be opened to exterior funds.
View PhotosRight now China primarily depends on imports for automotive chips
SAIC Motor Corp will set up a multibillion-yuan fund with the Shanghai Industrial Technology Research Institute (SITRI) to advertise analysis and manufacturing for automotive microchips.
The Chinese state-owned automaker stated on its official WeChat account that the fund may even look to put money into automotive electronics start-ups and can later be opened to exterior funds.
While China is the world’s largest automotive market, it primarily depends on imports for automotive chips and native semiconductor producers presently produce solely 5% of the worldwide market, SAIC stated.
A world scarcity of semiconductors has hit automakers world wide, delaying manufacturing and hitting gross sales.
0 Comments
(This story has not been edited by NDTV workers and is auto-generated from a syndicated feed.)
For the most recent auto information and opinions, observe on carandbike.com Twitter, Facebook, and subscribe to our YouTube channel.
,
With inputs from NDTV
