Hanwha Systems and Truwin will form a joint venture that will start supplying high sensitivity micro electro mechanical systems (MEMS) to Hyundai Motor in 2023.
Hanwha Systems said on Wednesday that the joint venture will develop infrared sensors and other automotive sensors.
The newly formed company will start with a capital of 36 billion won, with Hanwha owning a 51% stake and Truwin 49%.
The joint venture is expected to be formed within the year. Its MEMS chip fab will be built at Truwin’s current headquarters at Daejon.
A Hanwha Systems spokesperson said the venture will start manufacturing automotive sensors in full-scale in 2023.
It will manufacture EPS, IPS and HTS and supply them to Hyundai Motor, they added.
The infrared sensors, meanwhile, will be supplied to Hanwha Systems.
It wasn’t decided yet whether the infrared sensors will be used on urban air mobility (UAM) vehicles, they also said.
