NXP to Mass Produce Two Automotive Processors Under TSM's 16-NM Technology - NXP Semiconductors (NASDAQ:NXPI), Taiwan Semiconductor (NYSE:TSM)

NXP Semiconductors NV NXPI and Taiwan Semiconductor Manufacturing Co Ltd TSM announced the mass production readiness of NXP’s S32G2 vehicle network processors and the S32R294 radar processor under TSM’s 16-nm FinFET process technology.
NXP’s release of 16nm processors for radar and vehicle networking will turn cars into intelligent, connected robots on wheels that were safe, secure, and enjoyable, NXP CEO Kurt Sievers said.
Sievers also announced the mass release of NXP’s both processors.
TSM’s portfolio of automotive process technologies and services help to make cars safer, smarter, and greener,” TSM CEO Dr. C.C. Wei said.
The semiconductor chip crisis is estimated to cost the auto industry $110 billion in lost revenue for 2021.
Price action: NXPI shares closed lower by 1.66% at $207.91 on Tuesday.