- NXP Semiconductors NV (NASDAQ:NXPI) collaborated with Hon Hai Technology Group (Foxconn) to develop platforms for electric vehicles.
- Vital Apple Inc (NASDAQ:AAPL) supplier Foxconn considered the association a “prime opportunity” boost to its ability to quickly build EV products and reduce costs, Reuters reports.
- Foxconn looks to build more than ten automotive products with NXP, and they will soon be in development, including next-generation EV platforms using NXP’s processors.
- Foxconn aims to provide components or services to 10% of the world’s EVs by 2025 to 2027, Chair Liu Young-way has said, vowing to lower manufacturing costs for carmaking with its assembly know-how as the world’s largest contract electronics manufacturer.
- Foxconn sought to acquire chip plants globally amid a worldwide chip crisis.
- Recently, it became a shareholder in embattled Chinese chip conglomerate Tsinghua Unigroup via a $798 million investment by a subsidiary.
- Global EV penetration was 13% in May, up ~150bp M/M, above the YTD ’22 pace and well ahead of the 2021 EV penetration rate.
- Every region saw M/M EV uptake improvements except for China, thanks to the Covid-19 restrictions. However, it remained the global leader.
- Tesla, Inc’s (NASDAQ:TSLA) global EV share in May remained near its low point over the last three years due to the Shanghai lockdown.
- China’s strong EV uptake was due to several factors, including tech and cost-effectiveness.
- Price Action: NXPI shares traded higher by 2.92% at $175.41 on the last check Wednesday.
Aldeyra Therapeutics Schedules Conference Call And Webcast To Announce Top-Line Results From Part 1 Of The Phase 3 GUARD Trial Of ADX-2191 In Proliferative Vitreoretinopathy October 6
Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) (Aldeyra) today announced it will host a webcast and conference call on Thursday, October 6, 2022, at 8:00 a.m. (ET) to report top-line results from Part 1 of the Phase 3
