March 15, 2024 /SemiMedia/ -- STMicroelectronics CEO Jean-Marc Chery said on March 12 that despite the increasing tensions between China and the United States in semiconductors, China remains an important growth market for ST.

Jean-Marc Chery said that entering the Chinese electric vehicle, digital power control and renewable energy markets is crucial for the company.

"For us, it is definitely a risk to see Chinese chip manufacturers making large-scale investments in mainstream technologies, but it is also an opportunity." Chery said.

He said the company's strategy of investing in local production, including a joint venture with Sanan Optoelectronics to produce silicon carbide chips, would ensure the company's growth.

"China currently accounts for 15% of our revenue. We know that in some areas such as silicon carbide, China will be the fastest growing market. So our penetration in China will increase." Chery added.