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This Asia tech industry summary will mainly focus on LG Innotek planning to invest in flip chip-ball grid arrays (FC-BGAs) as substrate demand for 5G, AI, and smartphone application processors remains high; Luxshare Precision spending an additional CNY 10 billion (US$1.58 billion) on new energy vehicle (NEV) development after forming a joint venture with Chery Group; and Thailand approving tax incentives to promote a shift to electric vehicles (EVs).
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