The two companies work together to promote the development of China's automobile tire pressure monitoring industry
Shanghai, China, June 2, 2017 - NXP Semiconductors (NASDAQ: NXPI, hereinafter referred to as "NXP") and Shanghai Baolong Automotive Technology Co., Ltd. (SSE: 603197, hereinafter referred to as "Baolong" "Technology" announced today that it will jointly deepen the partnership between the two parties, deepen the level of cooperation on the basis of the existing product development and technical cooperation of the tire pressure monitoring system, jointly carry out the design and evaluation of the tire pressure monitoring system chip, and work together for tire pressure monitoring. The system provides more comprehensive technical support and perfect security guarantees to jointly promote the comprehensive development of China's tire pressure monitoring industry.
NXP Global Senior Vice President and President of Greater China Zheng Li pointed out: "NXP Semiconductor sincerely congratulates Baolong Technology on its successful listing on the Shanghai Stock Exchange. As one of the most competitive auto parts manufacturers in China, this is Baolong Technology. An important milestone in the history of development. With the official introduction of the mandatory national standard for passenger tire pressure in China, the tire pressure monitoring system will become one of the important standard tools for ensuring driving safety. Industry data shows that it is expected to be installed in 2020 before the domestic TPMS. Under such a background, NXP is pleased to establish a long-term and deep cooperation relationship with Baolong Technology. We are willing to actively share international advanced technology and experience for China's local automobile tire pressure monitoring industry. Comprehensive upgrades and contributions to safety technology innovation."
Jaime Pla, general manager of NXP's semiconductor sensor business line, said: "NXP has been the industry leader in safety technology for automotive tire pressure monitoring systems for many years and has successfully developed four generations of small, integrated, low-power, high-quality sensors for automotive customers. Baolong Technology is a leader in multiple automotive parts markets, constantly improving the quality and performance of TPMS modules through the improvement and adoption of innovative design and manufacturing processes. The two parties work together to reduce the energy consumption, size and weight of the tire pressure monitoring system. Key features continue to refresh the industry's new standards while helping to improve the safety and fuel efficiency of all vehicles. We look forward to establishing a far-reaching partnership with Baolong Technology."
Zhang Zuqiu, president of Baolong Technology, said: "Since its establishment in 1997, Baolong Technology has always insisted on research and development and innovation in the automotive industry. The tire pressure detection system has always been one of the company's important business areas. It has become the leading domestic and top five in the world. The pre-installation supplier of tire pressure monitoring system. NXP is an important partner of Baolong Technology. In recent years, the tire pressure detection system has maintained a good momentum of development in China. We will closely combine our own scientific and technological research and development advantages, and through the cooperation with NXP. Cooperation, and strive to provide more innovative safety products for the majority of car owners, to protect the overall development of China's tire pressure monitoring system."
The tire pressure monitoring system (TPMS) and the car airbag and anti-lock braking system are also called the three safety systems of the car. It plays a vital role in ensuring the pressure and temperature monitoring during the running of the car tires. The pressure monitoring system can greatly reduce the probability of abnormal tire damage and reduce vehicle fuel consumption. According to the forecast of the market analyst Strategy AnalyTIcs, it is estimated that more than 80% of the globally produced light vehicles will be equipped with tire pressure monitoring systems by 2020, and China will be the main growth area. In September 2016, the mandatory national standard “Performance Requirements and Test Methods for Passenger Car Tire Pressure Monitoring System†passed the technical review and will be approved by the National Standardization Administration Committee to determine the specific implementation time and be officially released. This also means that in the near future, cars sold in China's domestic market will have to be equipped with a tire pressure monitoring system. As the world's leading provider of secure connection solutions, NXP's tire pressure monitoring system solutions have the advantages of small size, low power consumption and high precision. They can measure the air pressure of each tire independently and in real time, and transmit this information to The vehicle dashboard is used to notify the driver immediately. NXP will continue to pay attention to and support the development and innovation of China's tire pressure monitoring system industry, and is committed to working with local partners to create a smart and safe industrial ecosystem.
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