Weekly News 32 | Please check it！

1.Passenger Federation:?China's new energy vehicle market retailed 647,000 units in July, a year-on-year increase of 33%

2.Japan’s automotive supplier Yazaki to build $33m plant in Egypt

3.India restricts import of computers, laptops and servers

4.AI chip firm Tenstorrent raises $100 million from Hyundai, Samsung

5.STMicroelectronics begins volume production of PowerGaN devices

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01

Passenger Federation: China's new energy vehicle market retailed 647,000 units in July, a year-on-year increase of 33%

In terms of preliminary statistics from the Passenger Federation, the retail sales of China’s electric vehicles in July gained 647,000 cars, a surge of 33% year on year(YoY) but a month-on-month(MoM) decrease of 3%.

It is said that China’s total retail sales of EVs have been 3.733 million units nowadays, a year-on-year leap of 37%; passenger car manufacturers across China have wholesaled 755,000 new energy vehicles, soaring by 34% YoY, and edging down 1% MoM. Since the beginning of this year, a total of 4.299 million vehicles have been wholesaled, ascending by 42%.

Comment:

The vehicle market continuously booms in the first half of the year. It is not surprising that the sales of vehicles rose sharply in a whole for July on the heels of vehicle wholesales in June hitting a new high, said Passenger Federation. The production and sales of cars are gradually impeded in July by the structurally divided growth of the auto market, the ample traditional car production capacity, and the summer holiday.

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02

Japan’s automotive supplier Yazaki to build $33m plant in Egypt

Japan’s global automotive parts supplier Yazaki announced the signing of land allocation contracts with Egypt for the construction of a new factory with US$33 million in investments, according to a statement issued by the Ministry of Local Development.

The new plant will provide around 3,500 direct and indirect jobs. Vice President of Yazaki Egypt Ahmed Bedewy said that the factory’s production will be exported, adding that the company targets annual exports worth US$110.4 million annually as well as providing new creative Japanese technology. The construction phase will start next October, and it is scheduled to be complete by?December 2024, with production to start in July 2024, he said.?

Comment：

Headquartered in Japan, Yazaki runs 140 plants in 45 countries around the world producing wiring harnesses, automotive parts and electrical systems. Bedewy disclosed that the company saw the annual sales of 12.5 billion euros.

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03

India restricts import of computers, laptops and servers

The Indian government Thursday placed restrictions on the import of laptops, tablets, personal computers and servers with immediate effect probably in a bid to encourage and protect the electric product manufacturing in India. The order issued by the Federal Ministry of Commerce and Industry said the imports would be allowed against a valid license for restricted imports. However, certain computers designated as "capital goods," such as the control computers that come with machine tools and MRI, are exempt from the rule.

As per the notification, one laptop, tablet, all-in-one PC or super minicomputer, including those purchased from e-commerce portals, are allowed to pass customs after paying the tariff without the valid license.

Up to 20 of these items per consignment are also eligible for an import license exemption for the purpose of research and development, testing, benchmarking and evaluation, repair and re-export, and product development. The mentioned products, which are allowed to be imported, are forbidden to be resold in India. Additionally, After achieving their intended purpose, the product is either destroyed or re-exported abroad.

Comment：

In April-June, electronics imports, which cover laptops, tablets and personal computers, was $19.7 billion, up 6.25% year-on-year. Electronics imports rang between 7% to 10% of the country’s total merchandise imports. Although the government has not elaborated on its rationale behind the move, industry experts say the step is likely to help boost local manufacturing.

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AI chip firm Tenstorrent raises $100 million from Hyundai, Samsung

Tenstorrent, a Canadian startup headed by chip industry veteran Jim Keller that is developing artificial intelligence chips, said on Wednesday it has raised $100 million from Hyundai Motor Group and a Samsung investment fund.

Tenstorrent said it has raised $30 million from Hyundai and $20 million from Kia , with the remaining $50 million coming from Samsung's Catalyst Fund and other investors including Fidelity Ventures, Eclipse Ventures, Epiq Capital and Maverick Capital.

Comment：

Tenstorrent, which before this funding had already raised $234.5 million was valued at $1 billion, is one of several upstarts looking to challenge Nvidia. Tenstorrent makes its own AI chips, but also sells its intellectual property and other technology to customers looking to make their own AI chips.

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05

STMicroelectronics begins volume production of PowerGaN devices?

STMicroelectronics has begun volume production of e-mode PowerGaN HEMT (high-electron-mobility transistor) devices.

The STPOWER? GaN transistors raise performance in applications such as wall adapters, chargers, lighting systems, industrial power supplies, renewable energy applications, and in automotive electrification.

Comment:

ST’s G-HEMT devices facilitate the transition to GaN wide-bandgap technology in power conversion. In the future, GaN is also expected to enable new power-conversion topologies that will further improve efficiency and decrease power losses. In the coming months, ST will introduce new PowerGaN variants, as well as additional power-package options.

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