DENSO CORPORATION and onsemi (Nasdaq: ON) announced today that they are strengthening their long-term relationship to support the procurement of autonomous driving (AD) and advanced driver assistance systems (ADAS) technologies.

For over 10 years, onsemi has been supplying DENSO with the latest intelligent automotive sensors to enhance ADAS and AD performance. These semiconductors have become increasingly vital in improving vehicle intelligence including connectivity, to help reduce traffic accident fatalities.

"DENSO's desire to work more closely with us demonstrates its confidence in our innovative capabilities, decades of expertise and supply resilience in automotive technologies," said Hassane El-Khoury, president and CEO of onsemi.

"As the second largest global supplier of automotive systems and parts, DENSO depends on a robust supply chain for critical materials like semiconductors to continue to reliably serve our customers with cutting-edge products," said Shinnosuke Hayashi, president of DENSO CORPORATION. "Therefore, it is essential to collaborate closely with industry leaders like onsemi, which has been improving the safety and autonomy of vehicles with its intelligent sensing technologies for years and provides the supply assurance we expect."

As a mark of their collaboration, DENSO intends to acquire onsemi shares on the open market, aiming to further enhance their long-term relationship.

About DENSO CORPORATION

Globally headquartered in Kariya, Japan, DENSO is a $47.2 billion leading mobility supplier that develops advancedtechnology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in around 180 facilities worldwide to provide opportunities for rewarding careers and to produce cutting-edge electrification, powertrain, thermal and mobility electronics products, amongothers, that change how the world moves. In developing such solutions, the company?s 162,000 global employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. DENSOspent around 7.7 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2024. For more information about DENSO?s operations worldwide, visit?www.denso.com/global.

Source: Denso

COMTEX_460942273/2268/2024-12-17T00:56:01