Cree (Nasdaq: CREE) has announced a multi-year agreement with STMicroelectronics (NYSE: STM) to produce and supply Wolfspeed silicon carbide (SiC) wafers to STMicroelectronics. STMicroelectronics is a leading global semiconductor supplier, spanning multiple electronic applications. The agreement includes that during this period of extraordinary growth and demand for silicon carbide (SiC) power devices, Career will supply STMicroelectronics with US $ 250 million in advanced 150mm silicon carbide (SiC) die and epitaxy wafers.
Jean-Marc Chery, President and CEO of STMicroelectronics, said: "STMicroelectronics is currently the only semiconductor company capable of mass production of automotive-grade SiC. Both in volume and in the application areas served. Our goal is to achieve leadership in this market, which is expected to exceed $ 3 billion by 2025. Signing this agreement with Cree will increase our flexibility , Support our ambitions and plans, and help increase the penetration of SiC (silicon carbide) in automotive and industrial applications. "
Cree CEO Gregg Lowe said, "Cree has been committed to increasing the widespread adoption of SiC (Silicon Carbide) -based solutions, and the signing of this agreement reflects our mission. This agreement is the third that Cree has signed in the past year A multi-year agreement will support the industry's transition from Si (silicon) to SiC (silicon carbide). As a global leader in SiC (silicon carbide), Cree will continue to expand its production capacity to meet the growing market demand. Especially in industrial and automotive applications. Cree is very pleased to continue supporting STMicroelectronics as we are all investing in accelerating this market. "
Wolfspeed, as a company of Cree, is a global leader in the manufacture of SiC (silicon carbide) wafers and epitaxial wafers. This supply agreement will help SiC (silicon carbide) be more widely used in the automotive and industrial markets.