Marvell Tech CEO cites Chinese auto market gain hinting recovery in automotive industry

Marvell Technologies CEO Matt Murphy on Tuesday expressed optimism over the automotive market stating that there has been an improvement in the sector which was otherwise gloomy industry due to Coronavirus pandemic. While speaking with international media, he said that there are positive signs of production resuming with a strong indicator in China's automotive market recovering.

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Matt Murphy's conviction comes as, according to reports, China Association of Automobile Manufacturers, the nation’s leading auto group, on Tuesday said car sales were up 11.7 percent year over year in May. Sales were up by 4.4 percent in April compared to the year prior.

Murphy said that Marvell Technologies has secured design wins for our ethernet products, which according to him, act as the network in the backbone of all future automotive systems. Marvell Technologies has got design wins across 16 different car OEMs.

Among other industries, the auto industry has suffered a major blow with production as well as sales and distribution shut in many countries across the globe due to Covid-19 pandemic and the consequential lockdown. However, now economies across the world have started resuming activities with markets reopening.

The COVID-19 pandemic that had caused havoc across the world has now taken the count of COVID-19 infections to over 6.38 million, of which over 380,000 have died due to the virus as the virus continues to infect people worldwide with no cure found yet.

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