STMicroelectronics NV (NYSE:STM) closed the day at $16.45 up a meagre 0.12%. Here is latest news from the company.
Seoul, Korea will soon benefit from the increasing demand for safer, greener, and more connected vehicles. A joint project between STMicroelectronics NV (NYSE:STM) and Hyundai Autron will make this possible. The duo is collaborating in the launch of Development Lab for Eco-Friendly Automotive Solutions. Engineers from the two companies will be able to tap on the Autron-ST Development Lab (ASDL) in their efforts to offer pioneering solutions.
ASDL will enhance efficiency in the development of the products for the next generation. In any case, it has been in place for close to 5years. This will help the two companies steer their level of competition to the next level.
The joint development advances the vision for smart driving
STMicroelectronics, a global semiconductor leader, has its products everywhere. The company’s vision is to offer solutions, which will enhance people’s everyday lives. One of its visions is to enable smart driving shortly.
According to the company’s Executive Vice President, the collaboration is well – timed. Jerome Roux, notes, “The joint development lab builds on the success of initial collaboration on automotive electronic control systems and advances our vision for the near future of smart driving.” The VP is also very optimistic that it will help them pull through with their goals in the use of ST’s broad semiconductor technology and proficiency.
ST is taking part in supporting Norstel AB
Norstel AB is a Swedish silicon carbide (SiC) wafer manufacturer. It develops 150mm silicon carbide bare and epitaxial wafers. ST has gone ahead to acquire the company’s 55% of Norstel’s share capital. This will help the manufacturer position itself for any upcoming growth opportunities.
Speaking about the new move, ST’s CEO, Jean-Marc Chery says that it aims at building strong momentum in SiC. Another goal is to strengthen its silicon carbide ecosystem, which will in return help in boosting and improving flexibility.
It is worth mentioning that Hyundai Autron is also having its spot in the market. It has developed semiconductors and battery management, controllers. Over time and since its launching in 2012, the company has persistently supported the demand for eco-friendly vehicles. To date, it has held onto its R&D efforts.