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Imagination and BAIC Capital creates automotive joint venture

Imagination Technologies and BAIC Group Industrial Investment (BAIC Capital), have signed a joint venture agreement to initiate the establishment of an automotive fabless semiconductor company.

Its main business is to design automotive grade system-on-chips (SoCs) and related software, and to provide support services. The JV will work with other automotive chip companies in the industry to support the innovations in intelligent connected vehicle for Chinese customers with a new model. The JV company will be headquartered in Zhongguancun Integrated Circuit Design Park. The main funding for the JV will come from Imagination, BAIC Capital, Additional investors are expected to be brought in during further rounds of funding. Bravo Lee, who has held senior roles in Imagination, MediaTek, Qualcomm and Spreadtrum will be CEO of the JV. The JV will operate independently as a fabless semiconductor company and a technology solutions provider. It will focus on the research and development of application processors for autonomous driving assistance systems (ADAS) and voice interactive chips for intelligent cockpits. The new JV will licence IPs and software of graphics processing units (GPU), and neural network acceleration (NNA) from Imagination in the way of general IP licensing model. “We are very pleased to cooperate with investors such as BAIC Group, a leading Chinese automotive company, to establish an advanced automotive chip design company in Beijing. Our goal is to accelerate the formation of China’s advanced automotive chip industry cluster.” says Ray Bingham, CEO of Imagination Technologies, in a press release. “As an independent IP supplier whose products have been widely proven in the automotive industry, Imagination will support the JV and other Chinese automotive chip companies to achieve the rise of a whole chip development cluster through innovations in technologies and business models.”
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October 20 2020 7:22 pm V18.11.10-1