Vestel Ventures, US-based Elevation Microsystems Inc., which develops automotive and power electronics chips. investment in the company made.
The statement made on this subject included the following: “Vestel Ventures, the corporate investment company established in 2015 to support initiatives and bring new business areas into Vestel, has made an investment that will expand the company’s presence in the automotive field. Ventures became a partner in US-based Elevation, which develops automotive and power electronics chips. Ventures General Manager Öner Tekin, in his statement regarding the agreement, said that the investment is an extremely important step for Vestel. Tekin said, “In line with the company’s technology company vision, we have been continuing our investments in start-up investments, international collaborations and growth areas for many years. “We made another move that will increase the company’s strength in the automotive ecosystem and mobility fields and invested in the US-based Elevation,” he said.
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Vestel Mobility General Manager Hakan Kutlu Reminding that the company has taken important steps in the field of automotive electronics in recent years and has become one of the leading suppliers in the market, he noted that the Elevation investment will take them even further in this field. Kutlu said, “As a company, we have been making investments in the field of automotive electronics, which we see as one of the sectors of the future, for many years. Elevation investment is also part of this vision. “In the coming period, the chips that Vestel engineers will design with their colleagues at Elevation will be used in the mobility products that Vestel will develop.” he said.
Elevation founder David Nam Regarding the investment, Elevation is a company that has automotive qualifications and develops high-performance analog and power microchips. At this point, 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 cars of the future together with Vestel.” he said.
Elevation, which today has a product portfolio consisting of high-voltage power and automotive electronics chips, produces system solutions using next-generation wide bandgap technology for electric vehicles. “The company helps the automotive industry develop in the field of sustainable energy with its energy efficient solutions.”