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  • STMicroelectronics, Sanan Optoelectronics to Form $3.2 Bln China Joint Venture

    STMicroelectronics, Sanan Optoelectronics to Form $3.2 Bln China Joint Venture

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    By Adria Calatayud

    STMicroelectronics and Sanan Optoelectronics said Wednesday that they are forming a semiconductor-manufacturing joint venture in China, with $3.2 billion in total build-out funding.

    The European and Chinese semiconductor companies said they have signed an agreement to create a silicon-carbide-device manufacturing project in Chongqing, China, to tap into rising demand for semiconductors for car electrification as well as for industrial power and energy applications in the country. Production is expected to start in the fourth quarter of 2025, with full build-out anticipated in 2028, the companies said.

    The expected $3.2 billion for the full build-out of the joint venture includes capital expenditures of about $2.4 billion over the next five years, which will be funded by contributions from STMicroelectronics and Sanan Optoelectronics, support from the local government and loans, the companies said.

    Sanan will separately build a silicon-carbide-substrate manufacturing plant to fulfill the needs of the joint project, the companies said.

    Completion of the project remains subject to regulatory approvals, STMicroelectronics and Sanan said.

    Write to Adria Calatayud at adria.calatayud@dowjones.com

    

    

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    Tesla’s Plans to Save Money Are Trouble for These Stocks
    
			
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    STMicroelectronics revenue, profit jump on automotive, microcontrollers strength
    
			
    STMicroelectronics revenue, profit jump on automotive, microcontrollers strength
    
			
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    STMicroelectronics NV on Thursday posted a surge in revenue and profit for the fourth quarter led by growth at its automotive and microcontrollers divisions.
    

    The European chip maker STM IT:STM said net revenue climbed to $4.42 billion compared with $3.56 billion in the 2021 fourth quarter, with the company’s automotive business contributing $1.70 billion.
    

    Net…
    
    

    

    

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