Vitesco Technologies And onsemi Sign SiC Long-Term Supply Agreement Worth $1.9B And Agree To Invest In SiC Technology Capacity Expansion
Portfolio Pulse from Happy Mohamed
Vitesco Technologies and onsemi have signed a 10-year long-term supply agreement worth $1.9 billion for silicon carbide (SiC) products to enable Vitesco Technologies' ramp in electrification technologies. Vitesco Technologies will invest $250 million in onsemi for new equipment for SiC boule growth, wafer production, and epitaxy.
May 31, 2023 | 5:13 pm
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onsemi signed a $1.9 billion, 10-year SiC supply agreement with Vitesco Technologies, which will invest $250 million in onsemi's production capacity.
The long-term supply agreement and investment from Vitesco Technologies will provide onsemi with a stable revenue stream and enable the company to expand its SiC production capacity. This will likely have a positive impact on onsemi's stock price in the short term.
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