Focusing on wafers and SiC chips for electric vehicles and telecom sector, Infineon is looking to enter India’s semiconductor market, stated Union Minister Ashwini Vaishnaw.
Ashwini Vaishnaw, the Union Minister of Electronics and Information Technology, recently announced on X that the Indian government has engaged in discussions with Infineon, a known name in the global chip manufacturing sector, about advancing power semiconductors essential for operating vehicle systems that link sensors and computers.
According to a report by the Business Standard, the company executives recently discussed this expansion with Vaishnaw in Delhi. This initiative follows the recent launch of the first phase of Infineon’s large silicon carbide fab plant in Malaysia.
Based in Germany, Infineon is considering entering India’s power semiconductor market. It will focus on manufacturing wafers and silicon carbide chips for electric vehicles and other applications.
Vaishnaw stated on X, “Discussed power semiconductor development with Infineon team. Good potential for Silicon Carbide chips in EV, Industrial and Telecom space.”
With India’s growing focus on power generation, transmission, and storage, power semiconductors are pivotal for decarbonising the automotive, industrial, and data centre sectors and crucial components in the supply chain.
Infineon, which generates over 50% of its revenue from automotive applications, has had a stable position in the market. Silicon Carbide (SiC), a compound semiconductor made from silicon and carbide, provides advantages over traditional silicon semiconductors.
However, European semiconductor companies, including Infineon, are experiencing declining electric vehicle (EV) demand due to weaker economic growth and insufficient charging infrastructure.
For the fiscal year 2023, ending September 30, Infineon reported revenue of approximately 16.3 billion Euros and employed 58,600 people globally. Recently, Infineon announced plans to relocate 1,400 jobs to lower-cost countries and cut an additional 1,400 positions worldwide.
Moreover, its third-quarter revenue fell by 9.5% YoY to 3.7 billion Euros ($4 billion), missing analyst forecasts.
