Yitoa unit Yitoa Aurora Microtechnology has signed a deal to produce custom MEMS chips and devices for Omov Automotive Electronics Changchun, its Shenzhen-based parent firm announced late yesterday. The pair will also work to set up a stable supply-chain partnership, it added.

The products will be used in laser beam scanning-based smart vehicle-mounted gear that Omov is about to launch, it said, adding that on-vehicle LBS devices are generally used for environment perception during autonomous driving or for immersive displays within smart cockpits.

The agreement will help drive large-scale adoption of Yitoa's MEMS devices in optical-interaction scenarios for smart vehicles, the firm said without disclosing the exact purpose of the LBS-based vehicle-mounted gear specified in the deal.

Product quantity, specifications, prices, delivery times, and other details will be determined by future procurement contracts, Yitoa pointed out.

Yitoa’s shares [SHE: 300131] closed 3.4 percent lower at CNY10.97 (USD1.54) each today, dragged down by a broader market selloff, with Shenzhen’s tech-heavy ChiNext Index losing 4 percent.

Editor: Martin Kadiev