Chinese EV battery giant CATL and Guoxin Micro set up a new automotive chip firm
Chinese EV battery giant CATL and semiconductor developer Guoxin Micro have partnered to establish a new automotive chip firm, Tongxin Micro Technology, in Beijing. The firm, with a registered capital of 300 million yuan, will focus on the automotive domain controller chip business. CATL's investment marks its latest expansion initiative, while Guoxin Micro aims to deepen strategic ties with target customers. The new entity will acquire the chip business from Tongxin Micro for 193 million yuan, reflecting a significant appreciation rate. Guoxin Micro's shares rose 1.33% following the announcement.
