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1st Gear: BMW Has A Flurry Of Announcements This Morning
Which we will have more about in a bit but for now I will cover the topline one, which is that BMW says that it expects that half of its new car sales will be fully electric by 2030. The company has been getting serious about electric for a bit now. Also, say goodbye to internal combustion engine Minis.
The automaker plans for about half of total sales to be fully electric by the end of the decade, it said on Wednesday. The company also confirmed that its Mini brand will only sell battery-powered cars by the early 2030s.
World going through unprecedented chip shortage thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
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Mar 17, 2021 10:11 AM
(Reuters) - Semiconductor Manufacturing International Corp (SMIC) said on Wednesday it planned to jointly invest in a $2.35 billion project with the government of Shenzhen to make 40,000 wafers per month in the southern Chinese city from 2022.
SMIC, China s largest chipmaker, said in a exchange filing that Shenzhen government company Shenzhen Major was expected to take a stake of no more than 23% in its subsidiary SMIC Shenzhen, the intended operator of the project, under a framework cooperation agreement, with SMIC retaining around 55%. The company and Shenzhen government will jointly drive other third-party investors to complete the remaining capital contribution, it said.
A US federal judge on March 12 suspended the blacklisting of Beijing-based smartphone maker Xiaomi. - Bloomberg
WASHINGTON (Xinhua): Chinese companies targeted by a sweeping investment ban imposed by former president Donald Trump are considering suing the US government after a federal judge on Friday (March 12) suspended a similar blacklisting for Beijing-based smartphone maker Xiaomi.
Lawyers familiar with the matter said some of the banned Chinese companies are in talks with law firms including Steptoe & Johnson and Hogan Lovells, emboldened by US District Judge Rudolph Contreras’ preliminary order halting Xiaomi’s inclusion on a US list of alleged “Chinese military companies” that are subject to an investment ban.
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SHANGHAI (Reuters) - The world is going through an unprecedented chip shortage, Zhou Zixue, a senior official with the China Semiconductor Industry Association, said on Wednesday, after semiconductor sales grew 18% last year.
“If you are an experienced player, you will remember that in 1999 there was a similar crisis in this industry, but it was way smaller,” Zhou, chairman of Semiconductor Manufacturing International Corp (SMIC), said in remarks at SEMICON China.
“We have to deepen our cooperation, we have to give more attention to innovation. Only by doing that our industry can control the challenges facing us.”
China is the world’s largest buyer of semiconductors, but domestic production is marginal. Sales in China grew 17.8% in 2020 from a year earlier to 891 billion yuan ($137 billion), according to CSIA.