MCM and the Jiaxing Government to setup a Joint Venture focusing on semiconductors

MCM and the Jiaxing Government in China sign an MOU to promote the development of wide-bandgap semiconductor materials in the high power application market.

In recent years, MCM has significantly grown its focus and participation in the semiconductor industry, deploying investment capital into leading into leading semiconductor ventures, building strong partnerships in China and overseas.

Hong Kong, 27 March 2024 MCM has signed a MOU with Zhejiang Jiaxing Government to set up a Joint Venture (JV) focusing on third-generation semiconductor high power applications. The JV will combine advanced technology in wide-bandgap semiconductor together with experience in high power modules to generate high power products in EV fast charging, solar energy and Data Center power supply.

Total investment size of the JV will be US$80 million. This is a milestone moment in the government’s ambition to improve its competitiveness in semiconductor industry. Jiaxing is surrounded by Suzhou to the north, Shanghai to the east, Hangzhou to the west. In terms of infrastructure, Jiaxing is well developed with a deep-water port, high-speed rail links, and six expressways linking to the wider Yangtze River Delta region which offers huge potential in becoming a key area in the China semiconductor supply and value chain.