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🗽💰Congress. The Senate moved forward a bill designed to reduce semiconductor dependence on China. The goal of the $52.2B in subsidies is to increase production within the US. An additional 25% tax credit would give an estimated $24B in tax relief.
🤝💡Volkswagen. Europe’s biggest car manufacturer is striving to gain greater control over the supply of chips. STMicroelectronics will co-design a new chip with Cariad, Volkswagen’s software unit. It is VW’s first direct relationship with second and third-rank semiconductor suppliers.
😎🌤 And then there’s Volvo… “We are through those semiconductor issues, ” CEO Jim Rowan said in a recent interview. The company is back in full supply and with production making a strong comeback in June, the company is optimistic, even though they reported a 27% slump in sales.
TL:DR — A high-ranking S. Korean-based auto park maker is pulling a divide and conquer, while SK Group, the 2nd largest individually controlled S. Korean conglomerate, invests in safe chargers for apartment buildings. Each move feels like an investment in being key players in the global shift toward electrification.
