Wolfspeed announces fiscal 2024 revenue and plans to close Durham 6-inch silicon carbide wafer fab

Wolfspeed released its financial report for the fourth quarter and full year of fiscal 2024 on August 21, and announced plans to close its Durham 6-inch silicon carbide wafer fab. In the fourth quarter of fiscal 2024, the company's consolidated revenue was approximately US$201 million, compared with approximately US$203 million in the same period last year, and a net loss of US$174 million. Despite the decline in the automotive semiconductor market, Wolfspeed's electric vehicle revenue has grown for three consecutive quarters, with related business revenue increasing 100% year-on-year this quarter.