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Wolfspeed Powers Toyota’s Electric Vehicle Platforms with Highly Reliable Silicon Carbide Components

via Business Wire

Underscores Wolfspeed’s leadership in silicon carbide power solutions, advancing Toyota’s global electrification strategy with enhanced efficiency and performance for battery electric vehicles.

Wolfspeed Inc. (NYSE: WOLF), a global leader in innovative silicon carbide power solutions, today announced that its automotive MOSFETs will power onboard charger systems for Toyota, one of the most respected and quality-driven automakers in the world.

Wolfspeed’s silicon carbide components will be integrated into Toyota’s Battery Electric Vehicles (BEV). This silicon carbide device adoption reflects Toyota’s confidence in Wolfspeed’s ability to meet the automaker’s rigorous standards for quality and long-term reliability.

“Toyota is known for its uncompromising approach to quality and reliability, and we’re honored to be supporting their next wave of electrification,” said Robert Feurle, Chief Executive Officer. “Wolfspeed’s U.S.-based supply chain and domestic silicon carbide manufacturing footprint ensure the stability and continuity they need to achieve their electrification goals.”

The widespread adoption of silicon carbide as the industry standard semiconductor for high voltage onboard power systems supports the automotive industry’s rapid transition to clean energy vehicles. While silicon carbide is renowned for powering fast, efficient, and high-power density EV powertrains, its application in onboard automotive auxiliary power systems - such as an onboard charger - also offers numerous benefits that enhance the overall experience of EV ownership throughout the vehicle's lifespan. By providing higher power and more efficient power systems, silicon carbide enables shorter charging times for EV owners and minimizes energy loss across the vehicle. This results in improved driving range and reduced costs associated with each recharge.

“Our work with Toyota is built upon years of trust in engineering expertise, supply reliability, as well as a shared obsession with quality,” said Cengiz Balkas, Wolfspeed’s Chief Business Officer. “This reinforces our role in driving electrification with silicon carbide technology that delivers performance, efficiency and safety.”

Wolfspeed supports a wide array of EV platforms directly with an OEM or through Tier 1 partners - making its technology a foundational element in the rapidly expanding EV ecosystem.

About Wolfspeed, Inc.

Wolfspeed (NYSE: WOLF) leads the market in the worldwide adoption of silicon carbide technologies that power the world’s most disruptive innovations. As the pioneers of silicon carbide, and creators of the most advanced semiconductor technology on earth, we are committed to powering a better world for everyone. Through silicon carbide material, Power Modules, Discrete Power Devices and Power Die Products targeted for various applications, we will bring you The Power to Make It Real.TM Learn more at www.wolfspeed.com.

Forward-Looking Statements

This press release contains forward-looking statements involving risks and uncertainties, both known and unknown, that may cause Wolfspeed’s actual results to differ materially from those indicated in the forward-looking statements. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about Wolfspeed’s ability to reduce customer lead times, improve manufacturing quality and efficiency, and achieve growth. 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risks relating to confidential information theft or misuse, including through cyber-attacks or cyber intrusion; our ability to complete development and commercialization of products under development; the rapid development of new technology and competing products that may impair demand or render our products obsolete; the potential lack of customer acceptance for our products; risks associated with ongoing litigation; the risk that customers do not maintain their favorable perception of our brand and products, resulting in lower demand for our products; the risk that our products fail to perform or fail to meet customer requirements or expectations, resulting in significant additional costs; risks associated with strategic transactions; the risk that we are not able to successfully execute or achieve the potential benefits of our efforts to enhance our value; the substantial doubt about the Company’s ability to continue as a going concern; and other factors discussed in our filings with the Securities and Exchange Commission (SEC), including our report on Form 10-K for the fiscal year ended June 30, 2024, and subsequent reports filed with the SEC. These forward-looking statements represent Wolfspeed's judgment as of the date of this release. Except as required under the United States federal securities laws and the rules and regulations of the SEC, Wolfspeed disclaims any intent or obligation to update any forward-looking statements after the date of this release, whether as a result of new information, future events, developments, changes in assumptions or otherwise.

Wolfspeed® is a registered trademark and The Power To Make It Real™ is a trademark of Wolfspeed, Inc. Toyota® is a registered trademark of Toyota Motor Corporation.

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