Vitesco Technologies signs $1.9 billion silicon carbide supply agreement with ON Semiconductor

Vitesco Technologies has signed a 10-year, $1.9 billion supply agreement with ON Semiconductor for silicon carbide products to meet its rapidly growing demand in the field of electrification technology. Vitesco Technologies will invest $250 million in new equipment, including silicon carbide wafer growth and epitaxial wafer production equipment. ON Semiconductor's EliteSiC MOSFET will be used in Vitesco Technologies' inverters and electric drive products.