News Snapshot:
FILE PHOTO: A SAIC Motor sign is seen at its booth during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly Song Reuters SHANGHAI (Reuters) - SAIC Motor Corp will establish a multibillion-yuan fund with the Shanghai Industrial Technology Research Institute (SITRI) to promote research and production for automotive microchips. The Chinese state-owned automaker said on its official WeChat account that the fund will also look to invest in automotive electronics start-ups and will later be opened to external funds. While China is the world's largest automotive market, it mainly relies on imports for...
