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The U.S. Department of Energy announced a conditional $544 million loan Thursday that would allow a Michigan semiconductor manufacturing plant to expand to make
The U.S. Department of Energy has announced a conditional $544 million loan that would allow a Michigan semiconductor manufacturing plant to expand to make parts that can bring faster charging times for electric vehicles.
The US Department of Energy is working with South Korea's SK Siltron to boost production of high-quality silicon carbide (SiC) wafers for electric vehicle power electronics.
The announcement comes as electric vehicle sales are not expected to be as strong as last year.
The state hopes a new $125 million fund will make Michigan more attractive for advanced manufacturing and let it lure more federally backed high-tech factories.