What happened: Dutch chipmaker NXP Semiconductors has invested in Chinese self-driving tech company Hawkeye, though the financial terms of the agreement have not been disclosed. NXP aims to expand its involvement in the automotive radar market in China. The two companies also agreed that Hawkeye would offer its expertise in 77Ghz automotive radar, which helps avoid collisions, as well as a research team, and a lab in Shanghai.
Why it’s important: NXP has had a tough run in China. Chinese authorities last year blocked a $44 billion takeover of the company by US chipmaker Qualcomm. The two chipmakers have subsequently abandoned the deal. Nonetheless, NXP has said that it continues to see China as an avenue for its growth. A significant portion of its businesses comes from chips for automakers, with executives saying last year that the company’s biggest automotive market is China. The deal with Hawkeye highlights NXP’s continued focus on China, and its efforts to expand its expertise in automotive technology.