- II-VI ( NASDAQ: IIVI ) is 2.5% higher after sealing a contract to supply materials to Infineon Technologies ( OTCQX:IFNNY ) for power electronics.
- The multi-year deal will see II-VI supplying 150 mm silicon carbide substrates for use in electronics for electric vehicle drivetrains, onboard battery chargers, and charging infrastructure.
- The two companies will also collaborate on the transition to 200 mm silicon carbide substrates.
- The news follows March's announcement that II-VI ( IIVI ) was accelerating investment in an expansion at its nearly 300,000-square-foot Pennsylvania factory to boost 150 mm and 200 mm substrate manufacturing - part of a plan to reach the equivalent of 1M 150 mm substrates a year by 2027.
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II-VI rises on deal to supply Infineon with substrates