Brief: Vitesco Secures Silicon Carbide Supply Capacity Worth $1.9 Bln

Vitesco Technologies AG

31/05/2023 09:03

May 31 (Reuters) - VITESCO TECHNOLOGIES GROUP AG
 VTSCn.DE :
    * VITESCO TECHNOLOGIES AND ONSEMI SIGN SIC LONG-TERM SUPPLY
AGREEMENT AND AGREE TO INVEST IN SIC TECHNOLOGY CAPACITY
EXPANSION
    * VITESCO TECHNOLOGIES IS SECURING SILICON CARBIDE (SIC)
SUPPLY
CAPACITY WORTH $1.9 BILLION (EUR 1.75 BILLION), TO ENABLE
ENORMOUS GROWTH IN ELECTRIFICATION
    * IS GAINING ACCESS TO THIS KEY SEMICONDUCTOR TECHNOLOGY BY
PROVIDING AN INVESTMENT IN PRODUCTION CAPACITY OF $250 MILLION
(EUR 230 MILLION) TO ONSEMI
    * IN ADDITION TO INVESTING IN PRODUCTION CAPACITY, TWO
COMPANIES
WILL COLLABORATE TO FURTHER OPTIMIZE TRACTION INVERTER SYSTEM

Source text for Eikon:  ID:nEQ6qhjt8a 
Further company coverage:  VTSCn.DE 

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