onsemi and Magna Sign Strategic Agreements to Invest in Silicon Carbide for Growing Electric Vehicle Market
Magna to integrate onsemi EliteSiC into its traction inverter solutions to improve range and efficiency of electric vehicles
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onsemi's EliteSiC MOSFET technology will improve the overall performance of Magna's eDrive systems. (Graphic: Business Wire)
By integrating onsemi’s industry-leading EliteSiC MOSFET technology, Magna eDrive systems can offer better cooling performance and faster acceleration and charging rates, improving efficiency and increasing the range of electric vehicles (EVs). Additionally, onsemi’s end-to-end silicon carbide (SiC) manufacturing capability, combined with its ability to ramp production quickly, improves Magna’s vertical integration and simplifies its supply chain to meet the growing demand for its SiC-based products for EVs.
“With range anxiety still a top deterrent to EV adoption, our technology enables Magna to go further, easing the transition to an electrified future,” said
Simultaneous with the signing of the LTSA, the companies entered a separate agreement for Magna to also invest approximately
“We believe that a secure supply of silicon carbide chips will be critical to our ability to continue delivering innovative and efficient eDrive systems for our customers,” said
Silicon carbide is a wide bandgap semiconductor substrate that is ideal for high-temperature, high-power applications such as electric vehicles, but it is incredibly difficult to produce. With a limited number of manufacturers and significant demand for SiC-based designs, OEMs and automotive suppliers are increasingly looking to secure long-term, reliable supply.
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onsemi (Nasdaq: ON) is driving disruptive innovations to help build a better future. With a focus on automotive and industrial end-markets, the company is accelerating change in megatrends such as vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure. onsemi offers a highly differentiated and innovative product portfolio, delivering intelligent power and sensing technologies that solve the world’s most complex challenges and leads the way to creating a safer, cleaner and smarter world. onsemi is recognized as a Fortune 500® company and included in the Nasdaq-100 Index® and S&P 500® index. Learn more about onsemi at www.onsemi.com.
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Magna is more than one of the world’s largest suppliers in the automotive space. We are a mobility technology company built to innovate, with a global, entrepreneurial-minded team of over 171,000 employees across 341 manufacturing operations and 88 product development, engineering and sales centres spanning 29 countries. With 65+ years of expertise, our ecosystem of interconnected products combined with our complete vehicle expertise uniquely positions us to advance mobility in an expanded transportation landscape. For further information about Magna (NYSE: MGA; TSX:MG), please visit http://www.magna.com or follow us on social.
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