Infineon Technologies announced Monday that it has signed a new long-term agreement with chipmaker GlobalFoundries, which will enable it to expand its production of microcontrollers for the automotive industry.

This multi-year partnership will enable the German semiconductor specialist to benefit from increased capacity for its Aurix TC3x range of components, based on 40-nanometer technology.

The agreement will also include collaboration in the fields of energy-saving systems and connectivity.

In a press release, Infineon stresses that the agreement will promote the growth of its embedded non-volatile memory (eNVM) business.

Listed on the Frankfurt Stock Exchange, Infineon shares rose by 1.4% following this announcement, posting one of the strongest gains on the DAX index in late afternoon trading.

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