The drive towards electrification in the automotive sector may boost the growth of semiconductor makers such as StMicroelectronics in 2023, as this will boost demand for chips. “The electrification of cars is experiencing a rapid acceleration and it is well known that electric cars require twice as many chips as conventional ones,” explained the managing director of St, Jean-Marc Chery, during a meeting with the press in on the occasion of the ‘St Sustainability Days’ initiative in the Agrate Brianza factory. Another effect is linked to the safety system (active safety) in the development of self-driving cars: “all cars will have these technologies and this is an important growth factor for the automotive industry in general and above all for ST, because we are partners Mobileye’s industry-leading technology,” Chery said. Then there is the aspect relating to technologies for the automotive sector which “will become increasingly sophisticated”. And this will require more semiconductors, “with a positive impact for chip makers,” the CEO underlined. These developments will be able to compensate for the fact that car registrations, in general, “may not return to pre-Covid levels in the short term”, Chery points out. “According to some more optimistic estimates it could be around 85 million, but more likely it will be around 80-82 million”.
Source: Ansa
I am an author at Global happenings and I mostly cover automobile news. In my time working in the automotive industry, I have developed a keen interest in the latest developments and trends. My writing skills have also allowed me to share my knowledge with others through articles and blog posts.
