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🗞️ Driving the news: Infineon, the German chipmaker, is upping its investment in additional production capacity in Malaysia by €5bn 
• This decision is largely influenced by the automotive industry's shift to electric vehicles (EVs), and comes backed by purchase commitments and prepayments from regional clients, including Chinese carmakers SAIC and Chery

🔭 The context: Infineon is among other major German companies that have been pressured by Berlin to reduce their dependence on China, where the company made 29% of its revenues last year
• Increasing geopolitical tensions have caused countries to seek secure access to crucial components, such as semiconductors

🌎 Why it matters for the planet: The transition to electric vehicles, which require more chips than their combustion engine counterparts, provides a significant opportunity for companies like Infineon to capitalize on the green shift in the automotive industry
• Infineon derives nearly half of its revenues from servicing automotive companies

⏭️ What’s next: Despite a dip in share price and squeezed margins in its automotive division, Infineon confirmed its full-year sales guidance of €16.2bn and reported a profit of €3bn before tax in the nine months ending in June

💬 One quote: “Semiconductor market trends continue to present a mixed picture with both light and shade. Demand remained high in the automotive and renewable energy industries," (Jochen Hanebeck, Infineon’s chief executive)

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