Wolfspeed has reached a preliminary agreement with the U.S. Commerce Department for $750 million in government grants to support its new North Carolina silicon carbide wafer manufacturing plant. Wolfspeed has secured $750 million in new financing from investment firms such as Apollo Global Management and Fidelity. Wolfspeed manufactures energy-efficient silicon carbide chips used by companies like General Motors and Mercedes-Benz for electric vehicles, renewable energy systems, and industrial and AI applications.
