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pixbet erro Chinese automaker Geely is in talks to acquire a considerable and likely controlling stake in the internal combustion engine (ICE) vehicle business unit of Renault, according to a Tuesday report by Reuters, citing people familiar with the matter. It comes at a time when Renault is looking to accelerate its transition to electric vehicles and has entered separate negotiations with long-time partner Nissan to invest in a standalone EV unit. The French automaker sold 34% of its South Korean company to Geely in May when both revealed plans to jointly develop and make hybrid vehicles at a plant in Busan. Geely also owns Volvo and holds a minority stake in Daimler. [Reuters]

pixbet erro Semiconductor Manufacturing International Corporation (SMIC), a leading Chinese semiconductor manufacturer made .9 billion in revenue in the second quarter of 2022, with 3.3% quarterly growth and 41.6% yearly growth, beating the consensus estimates of .89 billion from Bloomberg, according to its second-quarter earnings report released on Thursday. Net profits were 4.3 million, a 25% yearly decrease, yet a 15% quarterly growth. The firms revenue share for the second quarter from smartphones fell from 31.6% to 25.4% in the same period last year, while revenue share for smart home tech grew from 12.4% to 16.3%. Zhao Haijun, CEO of SMIC, said on the earnings call that the slow growth of the global economy and the downside of the semiconductor industry led to panic and uncertainty and that some firms on the supply chain even showed a frozen pause. He added that the growing demand in the semiconductor industry remains unchanged, despite the short-term adjustments. [SMIC]