Netherlands-headquartered NXP Semiconductors announced Wednesday that it has entered into an investment and cooperation agreement with Hawkeye Technology, a Chinese firm which specializes in 77 Ghz radar – a key technology for safe, autonomous driving.
However, the Dutch company did not reveal financial details on this deal.
The two companies will form a collaboration to create NXP-based reference designs for the Chinese automotive market.
China’s automotive radar sensor market is growing at nearly 2 times the world market rate, said NXP, adding that by 2020, radar technology will be in 50% of all newly produced cars.
“The fast development of ADAS (Advanced Driving Assistant System) and autonomous driving technologies has raised new requirements for vehicle-based millimeter radar,” said Hawkeye CEO Alex Shi.
He added that by partnering with NXP, Hawkeye will focus on providing advanced millimeter wave radar system-level solutions as well as comprehensive technical support for its top customers.
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