· SAIC and Infineon jointly produce power modules in China

On March 2, Chinese automaker SAIC and German chipmaker Infineon Technologies announced that they will form a joint venture to manufacture power modules for the Chinese electric vehicle market.
The joint venture company SAIC holds 51% and Infineon holds 49%. It is named SAIC Infineon Automotive Power Modules. It is headquartered in Shanghai and its production base is located. In the expansion project of the Infineon Wuxi plant, mass production is scheduled to begin in the second half of 2018.
Founded on April 1, 1999 in Munich, Germany, Infineon Technologies is one of the world's leading semiconductor companies, providing solutions for the wireless communications, automotive and industrial electronics, memory, computer security and chip card markets.
Chen Zhixin, president of SAIC, said: "We believe that Infineon's advanced power module solutions will be perfectly integrated with our expertise in electric vehicle and system. Electric vehicles not only provide customers with high convenience and unparalleled driving experience. It can also effectively alleviate energy and environmental pressures and promote the sustainable development of the automotive industry."
“Our joint venture will enable us to serve Chinese electric vehicle customers faster,” said Infineon’s board member Jochen Hanebeck.
Although the Chinese auto market has slowed sharply in 2017, the China Automobile Association expects that the sales of new energy vehicles will exceed 40% in 2018, and it is expected to reach 1 million units.
In 2017, the cumulative sales of SAIC passenger vehicles totaled 522,000 units, a year-on-year increase of 62.27%. According to the previous plan of SAIC, from 2018 to 2020, SAIC will launch more than 10 new vehicles, covering various segments such as MPV, SUV, sedan, SUV and new energy, to meet the diversified needs of the automotive market. .

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