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US$7m e-mobility sensor ASIC supply contract win
US$7m e-mobility sensor ASIC supply contract win.
About this update from Ensilica Plc
[{"type":"text","content":"\n\n \nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the UK Market Abuse Regulation\n \n \n13 September 2023\nEnSilica plc\n(\"EnSilica\", the \"Company\" or the \"Group\")\n \nEnSilica awarded sensor ASIC supply contract for the e-mobility market worth in excess of US$7 million\n \nEnSilica, a leading chip maker of mixed signal ASICs (Application Specific Integrated Circuits), is pleased to announce that it has been awarded an ASIC supply contract for a sensor ASIC to address the e-mobility market (the \"Contract\").\n \nThe Contract is for the design and supply of a mixed signal sensor ASIC for the e-mobility market encompassing electric vehicles (EVs), electric two wheelers, e-bikes, and e-scooters. Based on the volume commitments by the customer, the Contract will be worth in excess of US$7 million over the first five years of supply.\n \nThe majority of the NRE (non-recurring engineering) design element of the Contract will be completed in this financial year and will be fully funded by the customer. Production, manufacturing and supply is expected to begin in the middle of 2025 and run for at least five years.\n \nThe global e-mobility market is projected to grow at a compound annual growth rate of just over 14 percent from 2023 to 2030, growing from $130 billion to reach approximately $325 billion by 2030[1]. This rise in demand has prompted significant innovation across the sector to improve range, safety features, and ride experience. To remain competitive, many component manufacturers are opting to develop ASICs to differentiate their products, representing a significant growth opportunity for custom ASIC design specialists like EnSilica.\n \nIan Lankshear, Chief Executive Officer of EnSilica plc, commented:\n \n\"We are pleased to announce this new supply contract in a key growth market undergoing significant innovation and adoption globally. The technological demands across the e-mobility market are similar to those of the automotive market, and we look forward to capitalising on our proven automotive expertise to further expand our market reach.\"\n \n[1] https://www.grandviewresearch.com/industry-analysis/electric-mobility-market:\n \n \nFor further information please c...