Infineon launches chip venture with Chinese carmaker SAIC

Berlin

GERMAN chipmaker Infineon Technologies AG is teaming up with SAIC Motor Corp Ltd, China's largest carmaker by sales volume, to benefit from the quickly growing demand for electric cars in the country.

Infineon and SAIC will set up a joint company to produce power modules for Chinese manufacturers of electric cars and plug-in hybrids, jointly investing at least 100 million euros (S$162 million) and hiring 250 people to expand Infineon's chip factory in Wuxi.