Infineon launches chip venture with Chinese car giant SAIC

German chip manufacturer Infineon Technologies is teaming up with SAIC Motor Corp, China’s largest automaker by sales volume, to benefit from the quickly growing demand for electric cars, reports Stefan Nicola for Bloomberg. Infineon and SAIC will set up a joint company to produce power modules for Chinese manufacturers of electric cars and plug-in hybrids, jointly investing at least 100 million euros and hiring 250 people to expand Infineon’s chip factory in Wuxi, writes Nicola. “Our joint venture will make us faster to serve the electric vehicle customers in China,” said Jochen Hanebeck, member of the Management Board of Infineon responsible for operations, in a press release.

Find the article in English here and the Infineon press release in English here.

See the CLEW dossier German carmakers and the Energiewende for background.