Shanghai chip designer expands into automotive market
Shanghai Fudan Microelectronics will produce micro controller units for automotive industry, the chip designer's latest business expansion after its listing on the Shanghai STAR Market in August.
The company, with Fudan University as its major shareholder, has sold 500 million MCUs, making it No. 1 in the domestic industrial MCU market.
The automotive industry is a booming market with its trend to autonomous and electric driving, Fudan Micro said during an online conference on Wednesday.
The MCUs cover such things as digital keys, air conditioners, steering and seat transfers, making cars more intelligent and safe, Fudan Micro said.
The company has sold a total of 500 million MCUs in industrial, security and other industries. Each MCU lasts up to 16 years.
Fudan Micro closed at 49.1 yuan (US$7.70) on Wednesday, almost eight times of its IPO price on the board for high-tech and innovative startups.