TapTechNews would like to thank our user 'Fly Brother' for the lead! South Korean daily newspaper Maeil Business News reported on May 16 that SK hynix's foundry division SK KeyFoundry will begin producing power management (PMIC) chips for Tesla in the second half of this year. Industry sources say SK KeyFoundry plans to start producing power management chips at its 8-inch wafer fab in Cheongju, Chungcheongbuk-do, as early as July, and install them in Tesla electric vehicles. In addition to Tesla, SK KeyFoundry is also collaborating with several global automakers in the automotive power semiconductor field, and recently passed production quality audits from global leading automotive component companies such as Bosch and Continental. Semiconductor industry insiders stated, 'SK KeyFoundry needs more funding for research and equipment investment to ensure competitiveness, this is an objective reality.' They added, 'As we acquire proprietary technology, the pace of performance improvement will accelerate in electronic semiconductor processes.' SK hynix announced in October 2021 that it would acquire KeyFoundry for 576 billion Korean Won (approximately 30.59 billion RMB currently), and completed the acquisition in August 2022, renaming it SK KeyFoundry. KeyFoundry, spun off from MagnaChip in September 2020, specializes in foundry production of power management ICs (PMIC), display driver ICs (DDI), microcontrollers (MCU), and other products.