29 Oct 2020
ANZ’s new carbon initiatives
Mark Whelan |
With important changes to ANZ’s carbon policy announced today Mark Whelan shares how the bank is transitioning to a net zero emissions economy by 2050.
22 Jan 2021
IN CHARTS: electric vehicles in the tech ecosystem’s fast lane
Electric vehicles (EV) were the bright spot in 2020 for an otherwise weak year for the automotive industry.
China’s EV sales are forecast to surge nearly 40 per cent year-on year in 2021 following their 8 per cent year-on-year growth in 2020.
"Taiwan’s shipment volume surged through 2020 as its tech exports registered double digit growth.”
There has been a flurry of corporate activity in the tech-EV space recently including Taiwanese electronics contractor Foxconn setting up a venture with Chinese car-maker Geely; the former also signed a deal with Chinese EV start-up Byton to start mass production of the M-Byte electric car by the first quarter of 2022.
Geely has also announced a tie-up with Baidu to build EVs. Japanese giants Toshiba and Fuji Electric plan to invest a combined JPY200 billion ($US1.9 billion) to increase their output of power-saving chips for EVs. And American market leader Tesla registered a subsidiary company, Tesla India Motors and Energy Private Ltd, in Bengaluru, India on 8 January.
Developments in the tech industry
Macro outlook. South Korea plans to invest KRW125 billion ($US114 million) towards the development of artificial intelligence chips.
Industry outlook. The World Semiconductor Trade Statistics organisation forecasts the global semiconductor market will grow 8.4 per cent year-on-year in 2021 following an estimated 5.1 per cent growth in 2020. A shortage of semiconductor components is impacting not only China’s auto industry but also carmakers worldwide, including Volkswagen, Honda, and Fiat Chrysler, according to media reports.
Corporate activity. Taiwan Semiconductor Manufacturing Co (TSMC) is planning to build an advanced packaging facility in Tokyo, in a joint venture with Japan’s trade ministry. Intel is in discussions with Samsung and TSMC to outsource some of its semiconductor chips production.
The charts below demonstrate the journey of the tech industry has been on for the past few years and what’s to come in 2021 and beyond.
Global semiconductor revenues remained resilient in 2021, lifting the Philadelphia semiconductor index.
The United States’ high-tech trade balance registered a record deficit in 2020.
The electronics purchasing managers' index (PMI) is firmly in the expansionary zone.
Taiwan’s shipment volume surged through 2020 as its tech exports registered double digit growth.
Meanwhile, South Korea’s tech exports have picked up since Q3 2020.
Bansi Madhavani is Economist and Raymond Yeung is Chief Economist, Greater China at ANZ
The views and opinions expressed in this communication are those of the author and may not necessarily state or reflect those of ANZ.
editor's picks
18 Jan 2021
PODCAST: combatting the next decade’s crises
Blair Sheppard |
With COVID-19 still firmly gripping many communities, the next decade will see a number of major crises impacting the world’s economy.