Chinese auto chipmaker raises over $1.8 billion as Beijing prepares new chip fund
Best News Website or Mobile Service
WAN-IFRA Digital Media Awards Worldwide 2022
Best News Website or Mobile Service
Digital Media Awards Worldwide 2022
BEIJING : Chinese auto chipmaker GTA Semiconductor recently completed a largely state-funded financing round worth over $1.8 billion, state-backed Securities Times reported on Wednesday, with the move described as a clear signal to the domestic chip manufacturing industry that Beijing is still willing to invest in it.
With this injection of capital Shanghai-based GTA Semiconductor, one of China's largest auto chipmakers manufacturers by production, has in less than two years racked up over $2.7 billion of mostly state funds, according to the Securities Times.