In a significant development, German semiconductor giant Infineon revealed on Wednesday that it has entered into a multi-year agreement with leading automakers Hyundai and Kia. The essence of this partnership lies in the supply of critical power semiconductors, pivotal in the production of electric vehicles.
As per the terms of the contract, Infineon will embark on the establishment and preservation of manufacturing capacity specifically dedicated to providing silicon carbide and silicon power modules and chips to Hyundai and Kia. This commitment is set to extend until the year 2030. Additionally, both automakers will actively contribute financial resources to bolster the success of this venture, as outlined in the official statement released by Infineon.
Heung Soo Kim, Executive Vice President at Hyundai, expressed his enthusiasm, stating, “This collaborative effort not only ensures a steady semiconductor supply for Hyundai Motor and Kia but also strategically positions us to fortify our standing in the global electric vehicle market.” This accord signifies a major step forward in securing the semiconductor supply chain for the rapidly evolving electric vehicle sector, while also underlining the commitment of all parties involved to drive innovation and progress in the automotive industry.
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