According to an article from Reference News on March 13th, Jean-Marc Chery, the CEO of STMicroelectronics, stated on March 12th that despite escalating tensions between the US and China in the semiconductor industry, China remains an important growth market for the company.
During the annual Citigroup Global Technology Conference held in London, Chery mentioned that the company has not lost confidence due to Chinese chip manufacturers' plans to invest in mature process chips. Previously, the US took the lead in efforts to prevent China from manufacturing advanced chips domestically.
Chery emphasized the company's belief in the need to stay in the Chinese market, particularly in areas such as electric vehicles, digital power controllers, and renewable energy.
STMicroelectronics is a major manufacturer of automotive chips and microcontrollers.
The International Semiconductor Equipment and Materials Organization predicts that, with strong government subsidies, Chinese chip manufacturers' production capacity is expected to increase by around 12% this year.
Chery sees the massive investments by Chinese chip manufacturers in mainstream technologies as an opportunity.
He mentioned that the company's strategic investment in local production, including a joint venture with Sanan Optoelectronics to produce silicon carbide chips, will ensure growth.
Chery stated, "Currently, China accounts for 15% of our revenue. We know that some markets prefer silicon carbide chips, and China will be the fastest-growing market. Therefore, our penetration rate in China will increase."
