Infineon, a German chipmaker, announced on Wednesday that it has reached a multi-year arrangement with Hyundai and Kia to supply power semiconductors to assemble electric vehicles.
Hyundai and Kia will contribute financially to the initiative. Infineon will create and reserve production capacity to deliver silicon carbide and silicon power modules and chips to them until 2030, the company stated in a statement.
Heung Soo Kim, executive vice president of Hyundai, said, “This agreement not only allows Hyundai Motor and Kia to stabilize its semiconductor supply but also positions us to strengthen our leadership in the global EV industry.
Electric mobility is becoming increasingly popular as the globe struggles with environmental issues. This partnership between Hyundai-Kia and Infineon, a leading manufacturer of semiconductors, is a positive step toward building a more sustainable future. They aid in minimizing the automobile industry’s carbon footprint by making cars more efficient and environmentally friendly.
Hyundai and Kia are given a competitive advantage in the automobile industry through their collaboration with Infineon. Because they can provide cutting-edge, high-performance automobiles, they can stand out from their rivals and draw in a wider consumer base.
A significant partnership that can potentially change the automobile industry is the agreement between Hyundai-Kia and Infineon Technologies for the supply of semiconductors. Hyundai and Kia’s strength in the automotive industry and Infineon’s unmatched semiconductor knowledge will foster innovation and produce vehicles that perform better and are more environmentally friendly. This collaboration establishes the foundation for a new era of automotive excellence and highlights the rising significance of semiconductor technology in the automotive industry.
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