onsemi and ZEEKR Sign Long-Term Supply Agreement for Silicon Carbide Power Devices

Rhea-AI Summary

onsemi (Nasdaq: ON) has entered a long-term supply agreement with ZEEKR to provide its EliteSiC silicon carbide power devices. This collaboration aims to enhance the efficiency of ZEEKR's electric vehicles (EVs) and improve performance metrics including charging speed and driving range. The EliteSiC MOSFET devices will significantly reduce the size and weight of traction inverters while boosting power and thermal efficiency. ZEEKR, a premium EV brand from Geely, has ambitious growth plans and will leverage this tech to offer lower carbon emissions. The agreement is expected to strengthen the supply chain over the next decade, enabling both companies to meet the growing demand in the EV market.

Positive

• Long-term supply agreement strengthens partnership with ZEEKR.
• EliteSiC devices enhance EV performance and efficiency.
• Supports ZEEKR's ambitious growth and sustainability goals.

Negative

• None.

onsemi EliteSiC devices will help extend the range of ZEEKR’s smart electric vehicles (EVs)

SCOTTSDALE, Ariz. & HANGZHOU, China--(BUSINESS WIRE)-- onsemi (Nasdaq: ON), a leader in intelligent power and sensing technologies, and premium electric mobility brand ZEEKR today announced a long-term supply agreement (LTSA) between the two companies. onsemi will provide its EliteSiC silicon carbide (SiC) power devices to increase the powertrain efficiency of ZEEKR’s smart electric vehicles (EVs), resulting in improved performance, faster charging speeds and extended driving range.

ZEEKR and onsemi announce long-term supply agreement for EliteSiC power devices (ZEEKR X compact EV pictured). (Photo: Business Wire)

To support its expanding portfolio of high-performance EVs, ZEEKR will adopt onsemi EliteSiC MOSFET, 1200V, M3E with enhanced electrical and mechanical performance and reliability. These power devices deliver improved power and thermal efficiency, which reduces the size and weight of the traction inverter and enhances the range of the automaker’s EVs.

“With cutting-edge technologies such as advanced SiC, ZEEKR will be able to offer electric vehicles with improved performance and even lower carbon emissions,” said Andy An, CEO of ZEEKR Intelligent Technology. “As a brand committed to sustainability, ZEEKR will continue to explore different ways to accelerate the transition towards new energy vehicles.”

The new LTSA will enable both companies to build a stronger supply chain relationship to support ZEEKR’s growth over the next decade.

“A reliable supply chain is critical to business success and, after significant investments in our SiC end-to-end supply chain, onsemi can offer this strategic value to customers,” said Hassane El-Khoury, president and CEO, onsemi. “This agreement will help our continued ramp of SiC operations, enabling us to offer industry-leading power devices that help our customers deploy the most efficient and highest performing EVs on the market.”

ZEEKR is a premium electric mobility brand built to address the global demand for premium EVs. Utilizing Geely’s advanced Sustainable Experience Architecture (SEA), ZEEKR develops in-house battery technologies, battery management systems, electric motor technologies and electric vehicle supply chain support.

About onsemi

onsemi (Nasdaq: ON) is driving disruptive innovations to help build a better future. With a focus on automotive and industrial end-markets, the company is accelerating change in megatrends such as vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure. onsemi offers a highly differentiated and innovative product portfolio, delivering intelligent power and sensing technologies that solve the world’s most complex challenges and leads the way to creating a safer, cleaner, and smarter world. onsemi is recognized as a Fortune 500^® company and included in the S&P 500^® index. Learn more about onsemi at www.onsemi.com.

About ZEEKR

ZEEKR is the global premium electric mobility brand from Geely Holding Group. ZEEKR aims to create a fully integrated user ecosystem with innovation as standard. The brand utilizes Sustainable Experience Architecture (SEA) and includes its own battery technologies, battery management systems, electric motor technologies and electric vehicle supply chain. ZEEKR’s value is equality, diversity, and sustainability. Its ambition is to become a true mobility solution’s provider.

ZEEKR began delivery of its first product, ZEEKR 001 in October 2021 and started delivery of ZEEKR 009 MPV in early 2023. It has an ambitious roll-out plan over the next 5 years to satisfy the rapidly expanding global EV demand. In April 2023, the 100,000^th ZEEKR car rolled off its manufacturing base in Ningbo, China.

ZEEKR plans to start delivering cars in Europe in the fourth quarter of this year.

onsemi and the onsemi logo are trademarks of Semiconductor Components Industries, LLC. All other brand and product names appearing in this document are registered trademarks or trademarks of their respective holders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230425006184/en/

Stefanie Cuene

Head of Public Relations

onsemi

(602) 315-3778

Stefanie.Cuene@onsemi.com

Parag Agarwal

Vice President - Investor Relations & Corporate Development

onsemi

(602) 244-3437

investor@onsemi.com

Vicky Wang

Public Relations

ZEEKR

(86) 177 6717 2784

globalcomms@zeekrlife.com

Source: onsemi

FAQ

What is the long-term supply agreement between onsemi and ZEEKR?

onsemi will supply EliteSiC silicon carbide power devices to ZEEKR to enhance the efficiency of their electric vehicles.

How will the EliteSiC devices impact ZEEKR's electric vehicles?

The EliteSiC devices will improve performance, increase charging speeds, and extend the driving range of ZEEKR's EVs.

When did ZEEKR start delivering its vehicles?

ZEEKR began delivery of its first vehicle, the ZEEKR 001, in October 2021.

What are the future plans for ZEEKR in the European market?

ZEEKR plans to start delivering cars in Europe in the fourth quarter of this year.

What is the significance of the partnership for onsemi?

The agreement will help onsemi ramp up its SiC operations and solidify its place in the growing EV market.