EV boom to charge up chip demand

The demand for semiconductors in electric vehicles (EVs) is increasing as automakers accelerate their transition toward cleaner energy and digital transformation. Semiconductors are used in critical components of EVs, such as: advanced driver assistance systems (ADAS), battery management systems, power electronics, and infotainment systems. With EV sales projected to grow significantly in the coming decade, several chipmakers like Nvidia, Infineon, MediaTek, NXP, Qualcomm, STMicroelectronics, are vying for a dominant role in the industry’s supply chain.