Wolfspeed faces challenge as Tesla cuts back on silicon carbide chips

Wolfspeed was severely affected by Tesla's announcement to reduce the use of silicon carbide chips in each vehicle by 75%. Wolfspeed was once a leader in the LED lighting business, but driven by the new energy vehicle market, it successfully transformed into a leader in the silicon carbide field. However, Tesla's decision caused Wolfspeed's stock price to fall sharply and suffered a heavy blow in the electric vehicle price war.