STMicroelectronics and Huahong Group to produce 40nm microcontrollers in China

European chip giant STMicroelectronics announced at its investor day in Paris, France on Wednesday that it will cooperate with China's second-largest foundry Huahong Group to produce 40-nanometer microcontrollers (MCUs) in China to support its mid- to long-term revenue goals. STMicroelectronics expects to save up to millions of dollars by 2027 through the implementation of a manufacturing restructuring plan and a cost base adjustment plan.