Asian Tech Press (Oct 18) -- International integrated device manufacturers (IDMs) and chipmakers will increase production of automotive microcontroller unitS (MCUs) in the coming years to meet the growing demand for such chips, industry sources said.

The Taiwanese newspaper DigiTimes reported Monday that Japan's Renesas Electronics Corp (6723:Tokyo) has set plans to increase its output of automotive MCUs by 50% by the end of 2023.

And Germany's Infineon Technologies AG (IFX:Xetra) has decided to invest 2.4 billion euros ($2.064 billion) in capacity expansion.

In addition, the world's largest chipmaker Taiwan Semiconductor Manufacturing Company (TSMC) has said that it will also increase the production of automotive MCUs by 60% in 2021.