Cree and stmicroelectronics expand and extend existing silicon carbide wafer supply agreement

Cree, inc. announced the expansion and extension of an existing multi-year, long-term silicon carbide wafer supply agreement to more than $500 million. the extended agreement is a doubling in value of the original agreement for the supply of cree’s advanced 150mm silicon carbide bare and epitaxial wafers to stmicroelectronics over the next several years. the increased wafer supply enables the semiconductor leaders to address the rapidly growing demand for silicon carbide power devices globally, particularly in automotive and industrial applications.
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