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NL Corresspondent Jammu Tawi: Vitesco Technologies and onsemi today announced a 10-year long-term supply agreement worth $1.9 billion (€1.75 billion) for silicon carbide (SiC) products to enable Vitesco Technologies’ ramp in electrification technologies. Vitesco Technologies, a leading international manufacturer of modern drive technologies and electrification solutions, is providing an investment of $250 million (€230 million)

EQS-News: Vitesco Technologies Group AG / Key word: Alliance Vitesco Technologies Group AG: Vitesco Technologies and onsemi sign SiC long-term supply agreement and agree to invest in SiC... | May 31, 2023

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Vitesco Technologies and onsemi have entered into a 10-year long-term supply agreement worth USD 1.9 billion (EUR 1.75 billion) for SiC products to enable Vitesco's ramp in electrification technologies.

Vitesco Technologies is securing silicon carbide (SiC) supply capacity worth $1.9 billion (€1.75 billion) in a ten year supply deal with onsemi. The German tier one automotive supplier is paying onsemi $250 million (€230 million) upfront to secure that production capacity, and the two companies will collaborate to further optimize the design of traction inverters […]