ON Semiconductor announces second quarter 2024 results and signs multi-year agreement with Volkswagen

ON Semiconductor achieved revenue of $1.7352 billion in the second quarter of 2024, of which the Power Solutions Group (PSG), Analog and Mixed Signal Group (AMG), and Intelligent Sensing Group (ISG) had revenues of $835 million, $648 million, and $252 million, respectively. ON Semiconductor recently signed a multi-year agreement with Volkswagen Group to become the main supplier of the next-generation main drive inverter for its Scalable System Platform (SSP), providing a complete power box solution.