Wolfspeed Inc., an American power chip manufacturer, revealed on Friday that it is building a new, multi-billion-dollar factory in Chatham County, North Carolina. In this clip, Liz from Fox Business Exclusive speaks to Greg Lowe, Wolfspeed’s CEO and president. Lowe claims that Wolfspeed makes its chips from silicon carbide, a relatively new technology previously used to produce power management circuits and to power computers and mobile devices.
According to Lowe, they are a leader in this method since it will generate more than 60% of the chips in the world. Because it can tolerate high voltages and is more power-efficient, the chips are becoming more popular with manufacturers of electric vehicles. Lowe remarks when silicon is substituted with silicon carbide in electric automobiles, the range of the car is increased by 5 to 15%. In 20 minutes of charging, you can add 300 miles of range. Additionally, he mentions that Wolfspeed has partnered with General Motors, Lucid Motors, Zeta, Warner, and some Tier 1 suppliers for this project. The factory will be the biggest silicon carbide materials facility in the world by 2030.
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