This post was originally published on this site
And while the global semiconductor chip shortage has marred the EV industry’s growth this year, government initiatives to transition to a zero-emission environment, and an increased focus on ramping up semiconductor production, should drive the industry’s growth next year. By 2025, global electric vehicle production is expected to rise four-fold to more than 11.6 million units.
Therefore, we think prominent EV chip makers QUALCOMM Incorporated (NASDAQ:QCOM) and Microchip Technology Incorporated (NASDAQ:MCHP), and ON Semiconductor (ON) should benefit.
