Geely Expands Partnership with onsemi for 900V EV Architectures, Integrating EliteSiC Tech
ON has more than doubled off its 52-week low of $37.19.
Summary
onsemi has announced an expanded strategic collaboration with Geely Auto Group, a major global automaker, to integrate its EliteSiC power technologies into Geely's SEA-S platform for next-generation 900V electric vehicles. This partnership aims to accelerate EV development by improving efficiency, extending driving range, and reducing charging times. This follows a similar announcement yesterday regarding an expanded partnership with NIO for EliteSiC technology, underscoring onsemi's strong momentum in securing design wins for its silicon carbide solutions in the rapidly evolving EV market. The deal with Geely is a significant validation of onsemi's technology and positions the company as a key enabler for advanced EV architectures, representing a material growth driver. Traders will watch for further adoption of onsemi's SiC technology by other major automotive OEMs and the financial impact of these partnerships.
At the time of this announcement, ON was trading at $97.50 on NASDAQ in the Technology sector, with a market capitalization of approximately $38.6B. The 52-week trading range was $37.19 to $100.30. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.