202118 Aug

Wolfspeed and STMicroelectronics expand existing agreement

Summary

The amended agreement, which calls for Cree to supply ST with 150mm silicon carbide bare and epitaxial wafers over the next several years, is now worth more than $800m. The agreement will help meet the high volumes required by our product manufacturing operations in the next years, with a large number of automotive and industrial customer programs in high volumes or ramping up,” said Jean-Marc Chery, President and CEO of STMicroelectronics. The adoption of silicon carbide-based power solutions is rapidly growing across the automotive market as the industry moves from internal combustion engines to electric vehicles, enabling greater system efficiencies that result in electric cars with longer range and faster charging, while reducing cost, lowering weight and conserving space. “We are very pleased that STMicroelectronics will continue to leverage Wolfspeed silicon carbide materials as part of their supply strategy for the next several years,” said Cree CEO Gregg Lowe. Our partnerships and significant investments in increased production capacity ensure we are well positioned to capitalise on what we believe to be is a multi-decade growth opportunity for silicon carbide-based applications.”

Source: Electronicspecifier

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