India, April 2 -- Once a rising star alongside AI chips, power semiconductors are now feeling the heat from a sluggish EV market. According to ijiwei, citing Nikkei, major players are slashing jobs and pushing back investments, with layoffs topping 8,800.

Power semiconductors, vital for EV range and home appliance efficiency, have spurred major investments from giants. However, as per ijiwei, Japan's Renesas plans to cut less than 5% (about 1,050 people) of its 21,000 positions in Japan and overseas, while also postponing mass production at its Kofu plant, initially set for early 2025.

The story has not ended here! Germany's Infineon, the leading global supplier of power semiconductors, which opened the world's largest 200mm silicon car...