(JW Insights) Sep 1 -- Chinese foundry Semiconductor Manufacturing Electronics Corporation (SMEC中芯集成) plans to establish a subsidiary with SAIC Motor, Xpeng, CATL, Luxshare, Sungrow, and other well-known automotive and energy companies, Pandaily reported on August 31.

They will invest RMB500 million($68.6 million) to establish the subsidiary ChipLink Power with SMEC accounting for 51.00% of the registered capital.

SMEC’s semi-annual report for 2023 shows that the company is the largest and technologically most advanced IGBT production base in China. Currently, it holds the top position in terms of IGBT shipments as well as auto-grade SiC MOSFET shipments.

The automotive business has witnessed a year-on-year revenue surge of 510.67%, directly driving over 60% growth in the company’s main operations.

ChipLink Power will mainly engage in process research and development, production and sales of wide bandgap semiconductors such as SiC. Leveraging SMEC’s advantages, ChipLink Power will utilize its strong presence in the new energy industries to continuously collaborate with customers on developing advanced technologies and products, said the Pandaily report.

(Yuan XY/Gao J)