Europe’s third-largest chipmaker will join hands with a Chinese state-owned industrial group in a bet on the rise of Chinese carmakers and the future of hybrid and electric vehicles.
NXP Semiconductors of the Netherlands will form a joint venture with Datang Telecom to design and sell semiconductors for domestic carmakers, in a push to position itself as a local supplier in the world’s biggest car market by sales.
If there are two things the global automotive industry agrees on, they are the looming rise of Chinese carmakers and the proliferation of connected, high-tech vehicles – a big market for makers of semiconductors .
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