ON Semiconductor invests $2 billion to expand silicon carbide production capacity

ON Semiconductor plans to invest up to $2 billion (44 billion Czech crowns) in the next few years to expand its silicon carbide (SiC) production capacity in the Czech Republic and achieve a 40% share of the global automotive SiC chip market. This strategic move is aimed at meeting the growing market demand for high-performance power semiconductors while supporting the EU's goals of reducing carbon emissions and environmental impact.