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onsemi expects higher-than-expected third-quarter revenue

onsemi expects higher-than-expected third-quarter revenue

Posted Date: 2023-08-05

August 3, 2023 /SemiMedia/ –onsemi lately said that the continued robust demand within the automotive business has pushed the corporate’s silicon carbide enterprise, and it's anticipated that the corporate’s income within the third quarter of 2023 will likely be greater than market expectations.

As early as Might, onsemi stated it plans to speculate greater than $2 billion to extend the manufacturing of silicon carbide chips in response to the continued development in demand from electrical autos. As well as, the corporate is contemplating constructing new vegetation at current websites in South Korea, the USA, and the Czech Republic.

onsemi CEO Hassane El-Khoury stated that if demand continues to develop, the corporate is prepared to construct a brand new manufacturing unit, but when it makes use of current websites, it can higher assist the revenue margin of its silicon carbide enterprise line with the corporate’s revenue margin.