indie Semiconductor Extends In-cabin User Experience Portfolio With Addition of Qi2 MPP-compliant Wireless Charging Solution

Rhea-AI Summary

indie Semiconductor (Nasdaq: INDI) has unveiled the iND87204, a next-generation automotive wireless charging system-on-chip (SoC) compliant with the Qi 2.0 standard and supporting the new Magnetic Power Profile (MPP) feature. This Qi2-compliant solution delivers up to 15 watts of power and integrates multiple Arm® Cortex® processors for enhanced functionality.

The iND87204 aims to meet the growing demand for in-vehicle wireless charging, with the global market estimated at $1.9 billion in 2024 and projected to reach $13.6 billion by 2034, representing a 21.9% CAGR. The SoC offers significant bill of materials savings and simplifies implementation, potentially reducing the footprint and external components by up to 50% compared to existing solutions.

Positive

• Introduction of iND87204, a Qi2 MPP-compliant wireless charging SoC for automotive applications
• Potential 50% reduction in implementation footprint and external bill-of-materials compared to existing solutions
• Global in-car automotive wireless charger market projected to grow from $1.9 billion in 2024 to $13.6 billion by 2034 (21.9% CAGR)

Negative

• None.

Insights

Tech Expert

The introduction of indie Semiconductor's iND87204 SoC represents a significant leap in automotive wireless charging technology. By integrating Qi2 Magnetic Power Profile (MPP) capability, this chip addresses a important pain point in in-vehicle charging: maintaining optimal alignment during motion. This feature could drastically improve charging efficiency and user experience, potentially driving wider adoption of wireless charging in vehicles.

The chip's high level of integration, including multiple Arm® Cortex® processors and various interfaces, suggests a 50% reduction in external components. This could lead to substantial cost savings for manufacturers and potentially lower prices for consumers. The 15-watt power delivery is adequate for most modern smartphones, ensuring fast charging capabilities.

With the automotive wireless charger market projected to grow at a 21.9% CAGR, reaching $13.6 billion by 2034, indie Semiconductor is well-positioned to capitalize on this expanding market. The AEC-Q100 Grade 2 qualification also ensures the chip's reliability in automotive environments, a critical factor for OEM adoption.

Market Research Analyst

The iND87204 SoC launch aligns perfectly with the growing consumer demand for seamless in-vehicle device charging. The projected market growth from $1.9 billion in 2024 to $13.6 billion by 2034 indicates a massive opportunity for indie Semiconductor. However, the company will face stiff competition in this rapidly evolving space.

The chip's compliance with the latest Qi2 standard, including MPP support, gives indie a competitive edge. This could lead to increased adoption by automotive OEMs looking to differentiate their offerings. The 50% reduction in implementation footprint and external bill-of-materials is a significant selling point, potentially allowing indie to capture a larger market share.

The Q4 2024 production release timeline is strategic, allowing indie to capitalize on the early stages of Qi2 adoption in the automotive sector. However, the company's success will depend on its ability to secure partnerships with major automotive manufacturers and maintain its technological lead in this fast-paced market.

• Enables the Qi2 Magnetic Power Profile capability for convenient in-cabin wireless charging
• Compliant with the latest Qi standards, and qualified to automotive AEC-Q100 Grade 2
• Delivers significant bill of materials savings, simplifying implementation complexity and costs

ALISO VIEJO, Calif.--(BUSINESS WIRE)-- indie Semiconductor (Nasdaq: INDI), an automotive solutions innovator, has announced iND87204, its next-generation, highly-integrated automotive wireless charging system-on-chip (SoC). Fully compliant with the Wireless Power Consortium’s (WPC) Qi 2.0 technical standard, iND87204 also extends support to the new Magnetic Power Profile (MPP) feature - branded “Qi2” by the WPC - bringing an improved charging experience by magnetically aligning devices with inductive charger coils for more energy efficient, reliable and convenient charging. The SoC integrates multiple Arm^® Cortex^® processors for application and WPC stack processing, and all of the key in-vehicle serial interfaces, power management, DC-DC conversion, signal conditioning, WPC inverter drivers, power FETs and peripheral drivers to enable a fully Qi2-compliant wireless charging solution delivering up to 15 watts of power.

With the growing ubiquity of wireless charging capability within portable devices such as smartphones, tablets and laptops, drivers and passengers now expect the convenience of wireless device charging in their vehicles on the move. WPC’s latest standard featuring the MPP capability will accelerate the demand for automotive wireless charging due to its much-improved charging reliability enabled by maintaining portable devices in the optimal position irrespective of a vehicle’s motion. Enabled by semiconductor technology, the global in-car automotive wireless charger market is estimated¹ at U.S. $1.9 billion in 2024, and is forecasted to grow to $13.6 billion by 2034-end, representing a 21.9% CAGR over this period.

“Drivers and passengers are demanding seamless, rapid and more reliable portable device charging experiences in-vehicle. Building upon the success of our first-generation wireless charging solution iND87200, the iND87204 delivers on this vision, featuring the industry’s highest component integration for a Qi2 MPP-compliant SoC design, while simultaneously reducing the implementation footprint and external bill-of-materials by up to 50% relative to existing solutions,” said Fred Jarrar, vice president and general manager of indie Semiconductor's Power and ASIC Business Unit. “Our iND87204 solution is supported by high levels of SoC integration and turn-key firmware designs, speeding time to market for our customers while also derisking their developments. The iND87204’s system innovation will help to accelerate OEM deployment of mass-market Qi2-based automotive charging, and create a more engaging in-cabin experience for consumers.”

iND87204 is sampling with lead customers now and will be production released in the fourth quarter of 2024, fully qualified to AEC-Q100 Grade 2.

[1] https://www.factmr.com/report/automotive-wireless-charger-market

About indie

indie is empowering the automotive revolution with next generation semiconductors and software platforms. We focus on developing innovative, high-performance and energy-efficient technology for ADAS, in-cabin user experience and electrification applications. Our mixed-signal SoCs enable edge sensors spanning Radar, LiDAR, Ultrasound, and Computer Vision, while our embedded system control, power management and interfacing solutions transform the in-cabin experience and accelerate increasingly automated and electrified vehicles. We are an approved vendor to Tier 1 partners and our solutions can be found in marquee automotive OEMs worldwide. Headquartered in Aliso Viejo, CA, indie has design centers and regional support offices across the United States, Canada, Argentina, Scotland, Germany, Hungary, Morocco, Israel, Japan, South Korea, Switzerland and China.

Safe Harbor Statement

This communication contains “forward-looking statements” (including within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended) concerning indie Semiconductor such as the features, functionality, performance, availability, timing and expected benefits of indie Semiconductor products and technology, including its wireless charging products. Such statements include, but are not limited to, statements regarding our future business and financial performance and prospects, and other statements identified by words such as “will likely result,” “expect,” “anticipate,” “estimate,” “believe,” “intend,” “plan,” “project,” “outlook,” “should,” “could,” “may” or words of similar meaning. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. Actual results and the timing of events may differ materially from the results included in such forward-looking statements. In addition to the factors previously disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022 filed with the SEC on March 28, 2023 and in our other public reports filed with the SEC (including those identified under “Risk Factors” therein), the following factors, among others, could cause actual results and the timing of events to differ materially from the anticipated results or other expectations expressed in the forward-looking statements: the impact of the COVID-19 pandemic; the impact of Russia’s invasion of Ukraine; our reliance on contract manufacturing and outsourced supply chain and the availability of semiconductors and manufacturing capacity; competitive products and pricing pressures; our ability to win competitive bid selection processes and achieve additional design wins; the impact of any acquisitions we have made or may make, including our ability to successfully integrate acquired businesses and risks that the anticipated benefits of any acquisitions may not be fully realized or take longer to realize than expected; our ability to develop, market and gain acceptance for new and enhanced products and expand into new technologies and markets; trade restrictions and trade tensions; our ability to build, staff and integrate new design, testing, sales and marketing facilities throughout the world; and political and economic instability in our target markets. All forward looking statements in this press release are expressly qualified in their entirety by the foregoing cautionary statements.

Investors are cautioned not to place undue reliance on the forward-looking statements in this press release, which information set forth herein speaks only as of the date hereof. We do not undertake, and we expressly disclaim, any intention or obligation to update any forward-looking statements made in this announcement or in our other public filings, whether as a result of new information, future events or otherwise, except as required by law.

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Investor Relations

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Source: indie Semiconductor

FAQ

What is the iND87204 and how does it improve in-vehicle wireless charging?

The iND87204 is indie Semiconductor's next-generation automotive wireless charging system-on-chip (SoC) that supports the Qi2 Magnetic Power Profile (MPP) for more reliable and convenient in-vehicle charging. It improves charging efficiency by magnetically aligning devices with inductive charger coils, delivering up to 15 watts of power.

When will the iND87204 be available for production, and what is its qualification status?

The iND87204 is currently sampling with lead customers and is scheduled for production release in the fourth quarter of 2024. It will be fully qualified to AEC-Q100 Grade 2 standards for automotive applications.

How does the iND87204 impact the bill of materials for automotive wireless charging solutions?

The iND87204 offers significant bill of materials savings by integrating multiple components and reducing the implementation footprint. It potentially reduces external components by up to 50% compared to existing solutions, simplifying implementation and lowering costs for manufacturers.

What is the projected growth of the global in-car automotive wireless charger market according to the press release?

The global in-car automotive wireless charger market is estimated at $1.9 billion in 2024 and is forecasted to grow to $13.6 billion by 2034, representing a 21.9% CAGR over this period.