Aiming to grow its SiC power device business through vertical collaboration with Coherent

TOKYO--(BUSINESS WIRE)--Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it has agreed with Coherent Corp. (NYSE: COHR) to invest USD 500 million (approx. 75 billion yen) in a new silicon carbide (SiC) business to be carved out from Coherent, aiming to expand its SiC power device business by strengthening vertical collaboration with Coherent, who has been a supplier of SiC substrates to Mitsubishi Electric.

The electric vehicle market is expanding worldwide and is one of several emerging applications driving the exponential growth of SiC power devices, which offer lower energy loss, higher operating temperatures and faster switching speeds than conventional silicon power devices. The high efficiency of SiC power devices is expected to contribute significantly to global decarbonization and green transformation.

Mitsubishi Electric has been a leader in SiC power modules for high-speed trains, high-voltage industrial applications, and home appliances for many years. The company made history by launching the world’s first SiC power modules for air conditioners in 2010, and became the first supplier of a full SiC power module for Shinkansen high-speed trains in 2015. Mitsubishi Electric has also accumulated extensive expertise by meeting market needs for advanced performance and high reliability by deploying superior processing, screening, etc. for the development and manufacture of SiC power modules.

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Takeyoshi Komatsu

Public Relations Division

Mitsubishi Electric Corporation

Tel: +81-3-3218-2346

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www.MitsubishiElectric.com/news/