onsemi and DENSO Collaborate for a Strengthened Relationship

SCOTTSDALE, Ariz. and KARIYA, Japan - Dec. 16, 2024 - onsemi (Nasdaq: ON) and tier-one automotive supplier DENSO CORPORATION 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.