FILE PHOTO: A man works on a tent for NXP Semiconductors in preparation for the 2015 International Consumer Electronics Show (CES) at Las Vegas Convention Center in Las Vegas, Nevada, U.S. on January 4, 2015. REUTERS/Steve Marcus/File Photo
(Reuters) – Dutch chipmaker NXP Semiconductors NV said on Wednesday that it has invested in Chinese self-driving technology company Hawkeye Technology Co Ltd to expand its footprint in the automotive radar market in China.
NXP also signed a collaboration agreement with the Chinese firm under which Hawkeye will offer its expertise in 77Ghz automotive radar, a technology that enhances automotive safety by enabling vehicles to identify crash situations, a team of engineers and a lab complex within Southeast University in Nanjing, China, NXP said in a statement.
Financial terms of the agreement were not disclosed.
Through the partnership, the two companies will create NXP-based reference designs for the Chinese automotive market.
“The collaboration with Hawkeye is evidence of NXP’s confidence in the Chinese market and our determination to continuously invest in the country,” NXP President Kurt Sievers said in a statement.
Reporting by Rama Venkat and Aishwarya Venugopal in Bengaluru; Editing by Leslie Adler