:ON Semiconductor Corp is considering investing $2 billion in boosting production of silicon carbide chips that are widely used to help extend the range of electric vehicles, company executives said on Tuesday.
ON Semiconductor is a longtime supplier to the automotive industry, supplying both chips that go into drive trains of electric cars as well as a broad swath of other chips like cameras and sensors that help with driver-assistance systems. In an interview, ON Semiconductor Chief Executive Hassane El-Khoury said the firm's silicon carbide chip production is currently centered on one of its factories in Bucheon, South Korea. The company plans to find"end-to-end" production, meaning that whichever site it chooses will transform raw silicon carbide powder into a chip.
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