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Yitoa’s subsidiary, Aurora Microtechnology, has entered into an agreement to manufacture customized MEMS chips and devices for Omov Automotive Electronics in Changchun, its parent company based in Shenzhen announced yesterday evening. The two companies will also collaborate to establish a reliable supply chain partnership.
The MEMS products will be integrated into laser beam scanning-based smart vehicle-mounted equipment that Omov plans to introduce. These on-vehicle LBS devices are primarily used for environmental perception during autonomous driving or to provide immersive displays within smart cockpit systems.
This partnership aims to promote widespread adoption of Yitoa’s MEMS technology in optical interaction applications for intelligent vehicles. However, specific details about the intended application of the LBS-based vehicle gear remain undisclosed.
Details such as production quantities, specifications, pricing, delivery schedules, and other contractual terms will be defined in future procurement agreements.
Shares of the company closed down by 3.4 percent at CNY 10.97 (around USD 1.54) today, affected by a broader market decline, as Shenzhen’s tech-focused ChiNext Index dropped 4 percent.
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