Auto Industry News

Taiwan, home to companies such as Taiwan Semiconductor Manufacturing Co Ltd (TSMC), has become front and centre of efforts to resolve a shortage of chips that has shut some auto production lines around the world and whose impact is now being felt in consumer electronics too.

The company also disclosed its finances for the first time in its filing, revealing a fall in revenue and wider losses for the nine months ended September 2021.

The plant will be constructed in two phases and Xiaomi will also built its auto unit's headquarters, sales and research offices in the Beijing Economic and Technological Development Zone

The chips, developed by Samsung's logic chip design business System LSI, include a chip enabling 5G-based telecommunications for downloading high-definition video content during transit, and a power management chip for stable electricity supply.

In a statement, the transport ministry said ride-hailing companies should improve income distribution mechanisms and provide social insurance for drivers.

The leaders of Indian conglomerate Tata Sons, HSBC Holdings and Australia's Macquarie Group urged governments to get more involved in the green transition by providing incentives to develop new technology and help bring down costs.

Following the trial at Sinopec subsidiary plant in Tianjin, the refiner will follow up with building a one million tonne per year crude-to-olefin plant, it said, without giving further details.

The deal is the largest LNG long-term contract signed between Chinese and U.S. companies, Venture Global said in a statement.