Jean-Marc Chery, president and CEO of STMicroelectronics, and Jerome Roux, president of sales and marketing of STMicroelectronics, started visiting customers in China in November again. According to a report released by the firm on December 14, as the first CEO of a global semiconductor company to visit China in the past three years since the outbreak of COVID-19 pandemic, Jean-Marc Chery’s move demonstrates the company’s support for the Chinese market and its commitment to local customers.
As a leading semiconductor integrated device manufacturer (IDM) in the world, STMicroelectronics has mastered chip design, wafer manufacturing, package testing and sales. It is also one of the first global semiconductor companies to operate in China. During its nearly 40 years of work in China, it has set up 14 offices and now employs more than 5,200 people in the country.
China’s efforts to promote the development of electric vehicles is strong. According to STMicroelectronics, as of 2021, the sales volume of new energy vehicles in China has ranked first in the world for seven consecutive years. At present, the sales of electric vehicles in China account for half of the global sales, and nearly a quarter of the newly licensed vehicles in China are electric or plug-in hybrid vehicles, beating out the European and American markets. At the same time, the rapid development of new energy vehicles has led to investments in infrastructures such as fast charging stations and vehicle communication devices.
When talking about the reasons for choosing to visit customers in the automobile and industrial fields during this visit to China, STMicroelectronics pointed out that industry and automobile are the two markets with the strongest growth momentum in STMicroelectronics’s business portfolio, and they are the key to achieving the goal of revenue exceeding $20 billion within three years.
During this trip to China, Jean-Marc Chery, Jerome Roux, and Cao Zhiping, Executive Vice President of STMicroelectronics and President of China, and other executives had in-depth exchanges with many customers from the automotive and industrial fields, including automaker Changan Automobile and Seres, battery maker CATL, energy device maker GoodWe, power electronics maker VMAX New Energy and Atech and so on.
STMicroelectronics executives test-drove several smart electric vehicles from Seres and Changan. When visiting the exhibition hall of Changan’s global R&D center, Zhu Huarong, Chairman of Changan, introduced oil-powered vehicles, new energy vehicles, engines and transmissions, and highlighted technologies such as BlueCore engine, electronic and electrical architecture SDA platform.
It is worth mentioning that Chery revealed in July this year that there have been more than 100 cooperation agreements in the semiconductor silicon carbide (SiC) business, and it is estimated that the SiC business will achieve the revenue target of $1 billion next year, 30% of which will come from Asian customers. Its Chinese partners in this field include BYD, Geely, Great Wall Motor, Hyundai, XPeng, Huawei, Sungrow Power Supply, and others.
In addition, at the electronics South China held in Munich not long ago, Chery said, “China accounts for about 30% of our total revenue. This is a market we don’t want to give up, and we hope to continue to support it.”