Vestel Ventures Arge AŞ became a partner in US-based Elevation Microsystems Inc., a developer of automotive and power electronics chips.
Vestel Ventures 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.
Elevation, which has a product portfolio consisting of high-voltage power and automotive electronics chips, produces system solutions for electric vehicles using next generation wide bandwidth technology. With its energy-efficient solutions, the company helps the automotive industry develop in the field of sustainable energy.
Vestel Ventures General Manager Öner Tekin stated that the investment is an extremely important step for the company.
Mr. Tekin said, “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.”
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.
Kutlu said, “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.”
David Nam, founder of Elevation, said that Elevation is a company that develops high-performance analog and power microchips with automotive qualifications. Nam said, “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.”