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Chinese automotive chip startup Genesys Microelectronics raised tens of millions dollars in first round financing.
Eight companies and universities in central China’s Hubei Province set up a consortium to work on automotive-grade chips together with the province's automobile giant Dongfeng Motor Corporation(东风公司).
German car giant Volkswagen joined China Automotive Chip Industry Innovation Strategic Alliance (CACA) after getting approved, the organization announced on May 9.
Chinese automotive chip startup Oritek announced that it completed the Pre-A round of financing
Dutch global semiconductor company NXP has been operating in China for 35 years. Li Tingwei, Chairman of NXP Greater China, said the company is now working with more than 1,000 Chinese enterprises.
China’s chip production increased by 33.3% in 2021, and automotive chips supply showed a promising trend, according to the information released at the February 28 press conference by the Ministry of Industry and Information Technology (MIIT).