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IFX - Infineon Technologies AG News Story

€31.62 1.0  3.3%

Last Trade - 14/05/21

Sector
Technology
Size
Large Cap
Market Cap £35.44bn
Enterprise Value £38.65bn
Revenue £8.61bn
Position in Universe 37th / 1053

UPDATE 1-Mitsubishi Elec to acquire plant from Sharp to boost EV power chip output

Thu 11th June, 2020 8:24am
(Adds details, context)
    TOKYO, June 11 (Reuters) - Japan's Mitsubishi Electric Corp
 6503.T  said on Thursday it would buy part of a plant in
western Japan from Sharp Corp  6753.T  to meet growing demand
for power management chips used in electric vehicles (EVs).
    The move comes as Mitsubishi's rivals such as Infineon
Technologies AG  IFXGn.DE  and ON Semiconductor Corp  ON.O  are
boosting production capacity for power management chips, which
efficiently control electric power in cars and electronic
devices.
    Mitsubishi, a major supplier of such chips to Toyota Motor
Corp  7203.T , said it would invest about 20 billion yen ($187
million) to acquire two idled facilities at Sharp's chip plant
and launch production lines there.
    The new plant, set to begin operating in November next year,
will process wafers for power management chips, Mitsubishi said.
    
($1=107.1300 yen)

 (Reporting by Makiko Yamazaki; Editing by Clarence Fernandez &
Simon Cameron-Moore)
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