Mitsubishi Electric to Construct New Wafer Plant to Boost SiC Power Semiconductor Business

TOKYO, March 14, 2023 - Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it will double a previously announced its investment plan to approximately 260 billion yen in the five-year period to March 2026 mainly for constructing a new wafer plant to increase production of silicon carbide (SiC) power semiconductors. Under the plan, Mitsubishi Electric expects to respond to rapidly increasing demand for SiC power semiconductors for electric vehicles as well as expanding markets for new applications that require, for example, low energy loss, high temperature operation or high-speed switching. The plan will also enable Mitsubishi Electric to contribute to the global green-transformation trend toward energy conservation and decarbonization.