Yes Power Technix

History

2022: SK Inc acquired Yes Power Technix for $95 million

At the end of April 2022, it became known about the sale of the South Korean chip manufacturer for electric vehicles Yes Power Technix to the multi-industry holding SK Inc. The value of the transaction amounted to 120 billion won ($95 million).

Strategic investments, including the sale of shares, suggest that SK Inc (a holding company that includes SK Hynix, among other things) will dispose of a 95.8% stake in the company. Yes Power Technix, located in Pyeongthek, Gyeonggi Province, is developing and producing silicon carbide-based power semiconductors. SK owned a 35% stake in the company after investing 26.8 billion won ($20.4 million) in January 2021.

SK Inc buys electric car chip developer

The goal of the investment is to gain a foothold in the growing market for silicon carbide power semiconductors, as an increasing number of electric vehicles such as the Tesla Model 3, which is equipped with chips with a more heat-resistant material, SK reports.

Silicon or silicon carbide power semiconductors are used to regulate the direction of electric currents and energy conversion and are considered a key component of electric vehicles, electronic goods and infrastructure of 5G networks. According to SK, silicon carbide power semiconductors are more resistant to heat and high-voltage media, while they are thinner than silicon power analogues.

{{quote 'This acquisition is a step forward in strengthening our investments in key electric vehicle technologies, "said Kim Yang Tek, executive vice president of SK Inc's Center for Advanced Materials Investment, in a statement. Thanks to the rapid increase in production, we expect that the acquisition will support our ambitious plan to become a world leader in the field of advanced materials. }} In addition, SK envisages the creation of an internal silicon carbide chip supply chain, which includes SK Siltron, a silicon carbide wafer company.^[1]

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