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Datang Telecom, NXP establish joint venture
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The establishment of China's first automotive semiconductor business was announced today by NXP Semiconductors and its Chinese partner Datang Telecom Technology.
Datang Telecom will have a 51 percent share of the joint venture Datang NXP Semiconductors while NXP holds the remainder.
Based in Nantong City, Jiangsu Province, Datang NXP Semiconductors will be focused on developing solutions for new energy cars, including power management chips that can boost a car's mileage 30 to 40 percent without adding significantly to manufacturing costs.
Kurt Sievers, executive vice president of NXP Semiconductors, the biggest automotive semiconductor supplier in China, said the low range of electric cars is one of the major hindrances to their promotion today. If the range can be extended, sales of electric cars will explode, he said.
Datang NXP Semiconductors expects China's electric car market to grow at a compound annual rate of 70 percent in the next decade as the government continues to extend its subsidy program to encourage the use of eco-friendly vehicles.
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