In a report a South Korean newspaper said, SK Hynix Inc, the world’s second-largest memory chip maker, is close to signing a long-term deal to provide automotive memory chips to German auto supplier Robert Bosch GmbH.

Both companies are negotiating for a 10 year or more auto memory chip supply chain, reported South Korea’s Maeil Business Newspaper late on Tuesday citing unnamed industry sources without mentioning any financial details.

SK Hynix declined comment.

Bosch did not have an immediate comment.

According to a source with knowledge of the matter at hand, SK Hynix has memory chip supply partnerships with auto suppliers Continental and Hyundai Mobis.

The source preferred the cover of anonymity since the agreements are confidential.

Globally, auto companies globally struggling to secure chip inventory due to an unprecedented shortage of auto chips, compelling governments to introduce policies to bolster local chip industries.