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Friday, Jun 21, 2024
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Broadcom, Hyundai in Deal on Ethernet Chips

Irvine-based chipmaker Broadcom Corp. has struck a deal with Hyundai Motor Co. to provide Ethernet connectivity on its next-generation models.

Broadcom will help the Seoul-based automaker—which counts Orange County as headquarters for its U.S. unit—implement connected entertainment systems, telematics and Advanced Driver Assistance Systems, such as surround view parking and lane departure warnings into vehicles.

Telematics fuses information and communication technologies.

The deal builds on Broadcom’s pole position supplying Ethernet chips and related products to the automotive market.

Munich-based BMW AG plans to offer Broadcom’s Ethernet technology in its 2013 X5 sports utility vehicle that’s touted to lower cost, weight and complexity for automakers.

The latest deal was announced Tuesday at the SAE Convergence conference in Detroit.

Broadcom shares were up 3.4% in afterhours trading to a market value of $19.15 billion.

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