Wolfspeed announces important update on its silicon carbide project

Wolfspeed announced on June 24 the latest progress of its silicon carbide (SiC) project, especially the development of the Mohawk Valley SiC wafer fab. Currently, the fab's start-up utilization rate has reached 20%. The plant focuses on the production of 8-inch silicon carbide chips. This key step is to meet the growing demand for SiC power devices. Its silicon carbide material plant has successfully reached the 200mm silicon carbide substrate production capacity target, which is expected to support the Mohawk Valley plant to achieve approximately 25% wafer start-up utilization by the end of 2024. In addition, the Building 10 Materials plant has achieved the production target of 8-inch wafers. The company plans to announce the next utilization growth milestone of the Mohawk Valley fab during the fourth quarter earnings call for fiscal 2024.