Jaguar Land Rover Partners With Wolfspeed for Silicon Carbide Semiconductor Technology Supply for Next Generation Electric Vehicles

Rhea-AI Summary

Jaguar Land Rover has announced a strategic partnership with Wolfspeed (NYSE:WOLF) to supply advanced Silicon Carbide semiconductors for its next generation electric vehicles. This initiative is part of the company's Reimagine strategy aimed at transitioning to an electric-first business and achieving carbon net zero by 2039. The new technology will enhance powertrain efficiency and extend the driving range, with the first models expected in 2024. This partnership builds on an existing relationship in racing, indicating a strong commitment to innovation and sustainability.

Positive

• Strategic partnership with Wolfspeed to secure Silicon Carbide technology.
• New semiconductors will improve powertrain efficiency and driving range.
• Alignment with carbon net zero goals by 2039 enhances company sustainability profile.
• First Range Rover vehicles with new technology expected by 2024.

Negative

• None.

• Through its Reimagine strategy, Jaguar Land Rover is transforming to an electric-first business, on a journey to carbon net zero by 2039
• Strategic partnership with Wolfspeed will secure supply for Silicon Carbide semiconductor technology, integral to electrification of its next generation Range Rover, Discovery, Defender and Jaguar vehicles
• Next generation electric vehicle inverters using Silicon Carbide technology will deliver significantly increased powertrain efficiency and extended driving range for clients
• Strategic partnerships with industry leaders are a cornerstone of Jaguar Land Rover’s Reimagine strategy
• Wolfspeed’s Silicon Carbide semiconductors have been used in Jaguar TCS Racing Formula E team’s in-house developed powertrains since 2017
• Wolfspeed’s next generation Silicon Carbide semiconductors to be produced at the world’s largest fully automated 200mm Silicon Carbide facility in Marcy, New York

DURHAM, N.C. & GAYDON, England--(BUSINESS WIRE)-- Jaguar Land Rover and Wolfspeed, Inc. have today announced a strategic partnership to supply Silicon Carbide semiconductors for next generation electric vehicles, delivering increased powertrain efficiency and extended driving range.

Under its Reimagine strategy, Jaguar Land Rover is transforming to an electric-first business, to become carbon net zero across its supply chain, products, services, and operations by 2039.

Wolfspeed’s advanced Silicon Carbide technology will be used specifically in the vehicles’ inverter, managing the transfer of power from the battery to the electric motors. The first Range Rover vehicles with this advanced technology will be available from 2024, and the new all-electric Jaguar brand the following year.

The partnership builds on Wolfspeed’s existing relationship with the race-winning Jaguar TCS Racing team competing in the ABB FIA Formula E World Championship, where its advanced Silicon Carbide technology has been used to accelerate on-track efficiency and performance.

The agreement is the latest in Jaguar Land Rover’s programme of establishing strategic partnerships with industry leaders for its future modern luxury vehicles: in February 2022, Jaguar Land Rover announced a partnership with NVIDIA focused on software-defined, advanced automated driving systems for next-generation vehicles starting in 2025.

Thierry Bolloré, Chief Executive Officer, Jaguar Land Rover, said: “We are not strangers having collaborated together with the Jaguar TCS Racing team for the last five seasons. By developing that into a strategic partnership as part of our Reimagine strategy, we can integrate Wolfspeed’s advanced Silicon Carbide technology into our next generation electric vehicles, delivering extended range and performance capabilities for our clients.”

Wolfspeed President and CEO, Gregg Lowe, said: “Wolfspeed is proud to partner with Jaguar Land Rover, supporting its bold commitment to electrify its iconic brands by using Silicon Carbide’s superior performance, efficiency and range. The energy efficiency of Silicon Carbide will play an essential role as Jaguar Land Rover pursues its own zero carbon goals, and as the world transitions to an all-electric transportation future.”

The partnership agreement sees Jaguar Land Rover participate in the Wolfspeed Assurance of Supply Program^TM, to secure the supply of this technology for future electric vehicle production needs. This will enable greater visibility and control over Jaguar Land Rover’s future supply chain and is key to the new value chain approach of the company’s operations and supply chain under the leadership of Barbara Bergmeier, Executive Director of Industrial Operations.

Wolfspeed’s world leading technology is powering electric propulsion systems across the entire voltage spectrum – from 400V to 800V. The Silicon Carbide power device solutions will be produced at Wolfspeed’s Mohawk Valley Fab in Marcy, New York, which opened in April 2022 as the world’s largest 200mm Silicon Carbide fabrication facility. The fully automated facility dramatically expands capacity for Wolfspeed's Silicon Carbide technologies, which will supply the increasing demand for EV production and other advanced technology sectors around the world.

About Jaguar Land Rover: Reimagining the future of modern luxury by design

Jaguar Land Rover’s Reimagine strategy is delivering a sustainability-rich vision of modern luxury by design.

Our class-leading, modern luxury Range Rover, Discovery, Defender and Jaguar vehicles are in demand around the world with a model range embracing fully electric and hybrid electric technologies, as well as the latest petrol and diesel engines.

We are transforming our business to become carbon net zero across our supply chain, products and operations by 2039 and have set a roadmap to reduce emissions across our own operations and value chains by 2030 through approved, science-based targets. Electrification is central to this strategy, and all Jaguar and Land Rover nameplates will be available in pure electric form by the end of the decade.

At heart we are a British company, with two major design and engineering sites, three vehicle manufacturing facilities, an Engine Manufacturing Centre and a Battery Assembly Centre in the UK. We also have vehicle plants in China, Brazil, India, Austria and Slovakia, as well as seven technology hubs across the globe.

As a wholly owned subsidiary of Tata Motors since 2008, Jaguar Land Rover has unrivalled access to leading global players in technology and sustainability within the wider Tata Group.

For more information about Jaguar Land Rover’s Reimagine strategy please visit: https://www.jaguarlandrover.com/reimagine

- Twitter: @jaguarlandrover
- LinkedIn: @JaguarLandRover

About Wolfspeed

Wolfspeed (Wolfspeed (NYSE: WOLF)) leads the market in the worldwide adoption of Silicon Carbide and GaN technologies. We provide industry-leading solutions for efficient energy consumption and a sustainable future. Wolfspeed’s product families include Silicon Carbide materials, power devices and RF devices targeted for various applications such as electric vehicles, fast charging, 5G, renewable energy and storage, and aerospace and defence. We unleash the power of possibilities through hard work, collaboration and a passion for innovation. Learn more at www.wolfspeed.com.

- Twitter: @Wolfspeed
- LinkedIn: @Wolfspeed

Wolfspeed® is a registered trademark and Wolfspeed Assurance of Supply Program^TM is a trademark of Wolfspeed, Inc.

Forward Looking Statements:

This press release contains forward-looking statements about Wolfspeed involving risks and uncertainties, both known and unknown, that may cause actual results, performance or achievements to differ materially from those indicated in the forward-looking statements. Actual results could differ materially due to a number of factors, including the risks associated with construction and completion of Wolfspeed’s new Mohawk Valley device fabrication facility, including issues related to installing and qualifying new equipment, potential production process yield and quality control deviations, and potential unanticipated increases in costs or decreases in output; the risk Wolfspeed may encounter delays or other difficulties in ramping up production of its capacity to supply these products to Jaguar Land Rover; the risk that Wolfspeed may be unable to manufacture these products with sufficiently low cost to offer them at competitive prices or with acceptable margins; customer acceptance of these new products; the rapid development of new technology and competing products that may impair demand or render Wolfspeed’s products obsolete; and other factors discussed in Wolfspeed’s filings with the Securities and Exchange Commission, including its report on Form 10-K for the year ended June 26, 2022, and subsequent filings.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221031005084/en/

Wolfspeed

PR contact:

Melinda Walker

+1 818-261-4585

media@wolfspeed.com

IR contact:

Tyler Gronbach

+1 919-407-4820

investorrelations@wolfspeed.com

Jaguar Land Rover

For more information visit www.media.jaguarlandrover.com or contact:

Eva Ng Kon Tia

Senior Manager Strategy & Sustainability Communications

engkonti@jaguarlandrover.com

+44 7341 736 093

Jo Whitty

Global External Corporate Communications Manager

Jaguar Land Rover

jwhitty2@jaguarlandrover.com

+44 7384 211 790 

Source: Wolfspeed, Inc.

FAQ

What is the recent partnership between Jaguar Land Rover and Wolfspeed (NYSE:WOLF)?

Jaguar Land Rover has formed a strategic partnership with Wolfspeed to use Silicon Carbide semiconductors in its upcoming electric vehicles.

When will Jaguar Land Rover's first electric vehicles using Wolfspeed's technology be available?

The first Range Rover models utilizing this technology are expected to launch in 2024.

What are the goals of Jaguar Land Rover's Reimagine strategy?

The Reimagine strategy aims for Jaguar Land Rover to become an electric-first business and achieve carbon net zero by 2039.

How does the partnership with Wolfspeed impact Jaguar Land Rover's electric vehicle production?

The partnership secures supply of advanced semiconductor technology, enhancing powertrain efficiency and driving range for future electric vehicles.