Investing $15 million in Elevation Microsystems, Hyundai Mobis is looking to boost EV tech and advance power semiconductors crucial for autonomous driving.
Hyundai Mobis has acquired a significant stake in Elevation Microsystems, a US-based fabless semiconductor company focused on high-voltage power management solutions for electric vehicles (EVs). The $15 million investment, completed in November 2024, was disclosed in Hyundai Mobis’ 2024 business report to the Financial Supervisory Service.
Elevation Microsystems, known for its expertise in automotive power systems, designs advanced power semiconductors such as silicon carbide (SiC) and gallium nitride (GaN) FETs, as well as Matrix LED drivers.
The company’s products are crucial for efficient power management in electric vehicles, an area of growing demand as the global automotive industry shifts towards electrification.
Hyundai Mobis aims to strengthen its position in the automotive semiconductor market through this investment. The partnership will enable the company to accelerate the development of high-performance components needed for EVs and autonomous driving technologies, particularly those related to power management.
James Park, Global COO and President of Elevation Microsystems Korea commented, “We are excited to welcome Hyundai Mobis as a shareholder in Elevation Microsystems. This investment reflects our commitment to advancing the development of next-generation power management technologies and reinforces our role as a key player in the electric vehicle semiconductor space.”
The demand for high-voltage power semiconductors is expected to continue growing as more automakers transition to electric vehicles. This collaboration aims to meet the increasing need for efficient, high-performance automotive components.
In another context, Elevation Microsystems also secured an investment from Navitas Semiconductor in 2024 as it continues to solidify its role in the evolving EV sector. Both investments reflect the growing importance of power semiconductors in enhancing vehicle performance, efficiency, and safety.
