Infineon has announced that it has extended and expanded its agreement with US-based Wolfspeed for the supply of 150 mm silicon carbide wafers.

The chipmaker, which has been working with the Durham, North Carolina-based group for more than 20 years, says this multi-year contract is a continuation of the long-term agreement that was concluded in February 2018.

The German company explains that this partnership will enable it to ensure the stability of its supply chain, at a time when demand for silicon carbide materials is set to soar in the coming years due to their use in automotive, solar, as well as electric vehicle and energy storage applications.

According to estimates, the market is set to reach $20 billion on an annual basis by 2030.

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