Continuing its investments in automotive and power electronics, Vestel Ventures became a partner of US-based Elevation Microsystems Inc. which develops chips in this field.
In the near future, Vestel plans to use the new chips to be produced by Elevation in its mobility products and offer them for sale separately.
According to a statement released by Vestel, Vestel Ventures, the corporate investment company established in 2015 to support startups and bring new business areas within Vestel, made an investment that will expand the company’s presence in the automotive sector. Vestel Ventures became a partner in Elevation, a US-based company developing automotive and power electronics chips.
With a product portfolio of high-voltage power and automotive electronics chips, Elevation produces system solutions for electric vehicles using next-generation wide bandgap technology. With its energy-efficient solutions, the company helps the automotive industry develop in the field of sustainable energy.
“An extremely important step for Vestel”
Commenting on the issue, Oner Tekin, General Manager of Vestel Ventures, stated that the investment is an extremely important step for the company.
“In line with Vestel’s vision as a technology company, we have been continuing our startup investments, international collaborations and investments in our growth areas for many years. We have invested in US-based Elevation in another move that will increase Vestel’s strength in the automotive ecosystem and mobility areas” Tekin said.
Vestel Mobility General Manager Hakan Kutlu stated that Vestel has taken important steps in the field of automotive electronics in recent years and has become one of the leading suppliers in the market, and that the Elevation investment will carry the brand even further in this field.
“For many years, Vestel has been investing in automotive electronics, which we see as one of the sectors of the future. The Elevation investment is part of this vision. In the coming period, the chips that Vestel engineers will design with their colleagues at Elevation will be used in mobility products to be developed by Vestel” Kutlu said.
David Nam, founder of Elevation, said that Elevation is a company that develops high-performance analog and power microchips with automotive qualifications. “I would like to thank Vestel for its trust in us and our vision. We are very excited to develop microchips that will be used in the automobiles of the future with Vestel” Nam said.