ON Semiconductor, Magna Ink Strategic Agreements for Silicon Carbide for EV Market
27 Juillet 2023 - 2:20PM
Dow Jones News
By Robb M. Stewart
Technology company ON Semiconductor has teamed up with
automotive supplier Magna International to invest in silicon
carbide for the growing electric vehicle market, and will see Magna
integrate Onsemi technology to improve the range and efficiency of
electric vehicles.
Onsemi said Thursday it has struck a long-term supply agreement
for Magna to integrate its EliteSiC power solutions into the
Canadian company's e-drive systems, which promises better cooling
performance and faster acceleration and charging rates, improving
efficiency and increasing the range of electric vehicles.
For Magna, the deal is expected to simplify its supply chain to
meet demand, the companies said.
Under a separate agreement, Onsemi said Magna will invest about
$40 million to buy new silicon carbide equipment at Onsemi's New
Hampshire and Czech Republic facilities to ensure access to future
supply.
Silicon carbide is a wide bandgap semiconductor substrate that
is useful for high-temperature, high-power applications such as
electric vehicles.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
July 27, 2023 08:05 ET (12:05 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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