Chinese car manufacturer Great Wall Motor (GWM) has announced the opening of its own division for the development and production of chips. The authorized capital of the new enterprise under the name of Xindong Semiconductor Technology is $6.9 million.
A tenth of the capital came from GWM Chairman Wei Jianjun, 20% from GWM itself, and another 70% from Winsheng Technology, which is actually owned by the same Wei, since 99% of the company belongs to him and 1% to his wife . The active participation of the chairman in the investment project testifies to the importance of the latter for Great Wall and demonstrates the automaker's readiness to build its own supply of semiconductors.
According to Digitimes, the chip development will focus on IGBT transistors, autonomous driving systems and the release of chips for "smart cabs". Although the shortage of chips is not as noticeable in the auto industry as it was a year ago, GWM still seems to be suffering from a corresponding problem. In September, the company's car sales fell by 6.38% yoy to 93,642 vehicles, while total deliveries for the first 9 months of this year were 802,300 cars - the goal set for 2022 is not half achieved.