Cree, Inc. (NASDAQ: CREE) announced that it has signed a multi-year agreement with ON Semiconductor (NASDAQ: ON) to produce and supply ON Semiconductor Wolfspeed silicon carbide (SiC) wafers. ON Semiconductor is a global leader in semiconductors, serving multiple electronics applications. Cree will supply ON Semiconductor with $ 85 million worth of advanced 150mm silicon carbide (SiC) die and epitaxy wafers for high-growth markets such as EV electric vehicles and industrial applications.
Jeffrey Wincel, ON Semiconductor's vice president and chief procurement officer, said, "On Semiconductor continues to lead energy-efficient innovation and device development. The partnership with Career is very important and will help us maintain a world-class supply base. This agreement will support Our commitment to growth in automotive and industrial applications ensures the supply of industry-leading silicon carbide (SiC) to help engineers solve their unique design challenges. "
Creig CEO, Gregg Lowe, said: "Cree is committed to leading the global semiconductor market from silicon (Si) -based solutions to silicon carbide (SiC) -based solutions. We are very excited to support ON Semiconductor as we work together to accelerate The semiconductor market's transition to silicon carbide (SiC). This is the fourth major long-term agreement for silicon carbide (SiC) materials we have announced in the past year and a half. We will be through ongoing wafer supply agreements such as This agreement) and our recently announced significant capacity growth continue to drive adoption and supply of silicon carbide (SiC). "
Wolfspeed is a Cree company and a global leader in the production of silicon carbide (SiC) products and epitaxial wafers.