BEIJING (Reuters) – One of General Motors Co (NYSE:)’s China joint ventures said on Wednesday it is developing auto chips and aims to increase use of locally sourced chips in the next five years. Liuzhou-based SGMW, GM’s venture with partners SAIC Motor Corp and Guangxi Automobile Group, said at an industry conference that it has been developing its own auto computing chips since 2018. SGMW did not say whether it is merely designing chips or is also participating in chip-manufacturing but said it would boost cooperation with Chinese manufacturers to improve quality and economy of its chips. A prolonged global shortage of semiconductor chips has affected major automakers https://www.reuters.com/technology/car-chip-shortage-abate-smartphones-could-be-next-industry-execs-2021-07-23 including Ford Motor (NYSE:) Co, Honda Motor Co Ltd, and Volkswagen AG (OTC:), forcing many to idle or curtail production. SGMW is also developing battery-swapping stations for its micro electric vehicles, it said at World New Energy Vehicle Congress.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.