Electronics Supply Chain Weekly Digest 11-22-24.
DATAPOINT OF THE WEEK: S&P reported Nov flash mfg PMI of 46.3 vs 49.2 in Oct, marking a 23-month low reflecting an accelerating decline in output and new orders; nevertheless S&P flagged notable improvement in future sentiment for mfg in the US reaching a 31-month high, suggesting an economic expansion could be close.
S&P also reported Eurozone Nov flash mfg PMI of 45.2 vs 46.0 in Oct, marking a 2-month low reflecting continued decline in orders, output and waning confidence in the year-ahead outlook with business sentiment dropping the lowest since Sep-23. Germany Nov flash mfg PMI was stable at 43.2 vs 43.0 in Oct.
Headlines:
Auto
- BYD announced internally developed SoC for Level 3 ADAS
- Bosch to reduce pay/hours for 450 employees due to tough economy
- The clock is ticking for cheap EV leases after Trump’s win
- EU-China EV pricing talks advance on the cusp of Trump’s second term
- Europe new car sales flatten Y/Y in Oct following declines in Sep and Aug
- Ford to cut European jobs as EV shift, Chinese rivals take toll
- Mercedes plans to cut costs by several billion euros per year
- Nio sales fall short as China EV price war takes its toll
- Stellantis CEO says will adapt to U.S. market under Trump
- Stellantis unveils technology to support flexible EV production
- Stellantis again pauses Italy plants as minister wants new investments
- Stellantis delays electric ram truck debuts to first half 2025
- Trump team targets auto mileage rules he blasted as ‘EV Mandate’
- Automakers urge Trump to preserve EV tax credits, boost self-driving cars
- VW union proposes $1.6 billion of cuts, but no plant closures
- VW union calls for Dec 1 strikes as wage talks stutter
- China’s Xpeng says no impact from US curbs on its Turing AI chip output
- Xiaomi CEO: SU7 deliveries surpass 100,000, aiming for 130,000 by year end
- Xiaomi’s EV push shines while challenges emerge
Industrial
- Boeing to lay off over 2,500 workers in US as part of sweeping cuts
- China slashes export tax rebates for solar panels and lithium batteries by
- Japan’s factory activity extends declines on sluggish demand, PMI shows
- Northvolt struggles to hit production targets
- Sweden’s Northvolt files for bankruptcy, in blow to Europe’s EV ambitions
- China overtakes Germany in industrial use of robots, says report
Semiconductors
- GlobalFoundries cements Chips Act deal for US$1.5 billion grant
- Microsoft-backed startup d-Matrix launches first AI chip
- Nvidia’s Blackwell rack design reportedly faces overheating, potentially delaying shipments
- Nvidia’s reports earnings with AI chip demand still booming but sales growth slowing
- Fierce price war in the PMIC sector begins to ease as inventory stabilizes
- Intel delays German wafer fab project, final feasibility assessment within two years
- Subaru Utilizes onsemi Image Sensors for Next-Gen AI-Integrated EyeSight System
- Qualcomm predicts that PC chip sales will reach US$4 billion in 2029
- Rohm delays SiC plant amid EV slowdown
- STMicro partners with Hua Hong as chipmakers need China, says CEO
- STMicroelectronics delays financial targets, CEO says governments distorting markets
- SK Siltron secures US$544 million loan to support SiC wafer production
- TSMC adjusts CoWoS capacity plans amid Trump 2.0 uncertainty
- TSMC plans to build 10 factories globally next year
- U.S. government announces up to $300 million in funding to boost advanced semiconductor packaging
Other
- Trump to unleash nearly 40% tariffs on China in early 2025, hitting growth: Reuters poll
- WPG to see weaker growth in 2025, with opportunities in auto solutions
Source:
Edgewater Research
