Wolfspeed CEO Gregg Lowe discusses the company's latest progress and future plans

Wolfspeed CEO Gregg Lowe shared the company's latest progress and future plans. He said the company has made corresponding progress on two projects, including the 20% utilization rate of the Mohawk Valley 8-inch SiC wafer factory and the start-up of the JP SiC manufacturing center. He also mentioned that the manufacturing cost of 8-inch SiC wafers at the Mohawk Valley factory is significantly lower than that of the Durham 6-inch SiC wafer factory, so the company plans to close the latter. In addition, Wolfspeed is negotiating to obtain federal funds through the CHIPS Act.