EV Chipmaker Wolfspeed Secures $750M Government Grants for NC Wafer Factory

Benzinga

Wolfspeed has reached a preliminary agreement with the U.S. Commerce Department for $750 million in government grants to support its new North Carolina silicon carbide wafer manufacturing plant. Wolfspeed has secured $750 million in new financing from investment firms such as Apollo Global Management and Fidelity. Wolfspeed manufactures energy-efficient silicon carbide chips used by companies like General Motors and Mercedes-Benz for electric vehicles, renewable energy systems, and industrial and AI applications.

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00:00It's Benzinga, and here's what's on the block.

00:02Wolfspeed has reached a preliminary agreement with the U.S. Commerce Department for $750

00:08million in government grants to support its new North Carolina silicon carbide wafer manufacturing

00:14plan.

00:15Wolfspeed has secured $750 million in new financing from investment firms such as Apollo

00:19Global Management and Fidelity.

00:22Wolfspeed manufactures energy-efficient silicon carbide chips used by companies like General

00:26Motors and Mercedes-Benz for electric vehicles, renewable energy systems, and industrial and

00:31AI applications.

00:32For all things money, visit Benzinga.com.

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