US chipmaker onsemi reported a record revenue of $4.3 billion for the automotive business for the fiscal year ending Dec. 31,Passion's Peak (2002) reflecting a 29% year-on-year growth driven by robust demand for high-resolution image sensors for advanced driver assistance systems. Specifically, the company’s 8-megapixel image sensors for advanced safety features nearly doubled in revenue year-over-year, as highlighted by Chief Executive Hassane El-Khoury during an earnings call. The revenue surge is also attributed to the increasing demand for its silicon carbide chips, with business revenue witnessing “the highest growth in the industry,” reaching over $800 million, approximately four times higher than a year ago, El-Khoury added. Silicon carbide (SiC) power modules, featured in the company’s chips, can operate at much higher voltages than traditional silicon-based ones, enabling faster recharging and longer driving ranges for electric vehicles. Parts suppliers like Bosch and Infineon have been expanding their capacities to meet the surging demand. [onsemi release]
