STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, has signed a long-term silicon carbide (SiC) supply agreement with Li Auto (NYSE: LI), a leader in China’s new energy vehicle market that designs, develops, manufactures, and sells smart premium electric vehicles. Under this agreement, STMicroelectronics (”ST”) will provide Li Auto with SiC MOSFET devices to support Li Auto’s strategy around high-voltage battery electric vehicles (BEVs) in various market segments. As the automotive industry transforms towards electrification and decarbonization, high-voltage BEVs have become a popular choice for car makers. These vehicles offer outstanding energy efficiency and extended mileage. Li Auto, known for its extended-range electric vehicles (EREVs), is entering the BEV market with its first-ever high-tech flagship family MPV BEV model premiered in Q4 2023. With plans to introduce more high-voltage BEV models soon, Li Auto will require high volumes of SiC MOSFETs that it will integrate into its traction inverters to ensure superior electric-vehicle performance. ST’s SiC devices increase performance and efficiency through higher switching frequencies, breakdown voltages, and thermal resistance. These are all particularly critical characteristics at the higher operating voltages required for battery electric vehicles. Li Auto is adopting ST’s advanced third-generation 1200V SiC MOSFET in the traction inverter of its upcoming 800V BEV platform, to ensure industry-leading process stability and performance, efficiency, and reliability. “Li Auto is committed to providing families with premium EVs exceeding their expectation. This agreement with ST stands as a testament to Li Auto’s unwavering dedication in BEV product development. Collaborating with the renowned global leader in SiC technologies, we anticipate a forthcoming relationship filled with innovation and success,” said Qingpeng MENG, Vice President of Supply Chain, Li Auto. Holding more than 50% market share in SiC MOSFETs worldwide, ST’s SiC technology has earned high praise from top OEMs for its electric-vehicle performance. It is widely used in onboard chargers and power modules. “As a world leader in power devices and wide bandgap semiconductor technologies, ST has established long-term supply agreements with major car makers and Tier 1 suppliers. The SiC supply agreement with Li Auto marks a significant step building upon our existing long-term relationship in other automotive applications,” said Henry CAO, Executive Vice President of Sales & Marketing, China Region, STMicroelectronics. “ST is committed to supporting Li Auto’s ambition to become a top premium electric vehicle brand in China, offering their customers superior vehicle performance and range with our innovative SiC technologies.” About Li Auto Li Auto is a leader in China’s new energy vehicle market. The Company designs, develops, manufactures, and sells premium smart electric vehicles. Its mission is: Create a Mobile Home, Create Happiness. Through innovations in product, technology, and business model, the Company provides families with safe, convenient, and comfortable products and services. Li Auto is a pioneer to successfully commercialize extended-range electric vehicles in China. The Company leverages technology to create value for its users. It concentrates its in-house development efforts on its proprietary range extension system, next-generation electric vehicle technology, and smart vehicle solutions while expanding its product line by developing new BEVs and EREVs to target a broader user base. Further information can be found at https://www.lixiang.com/ About STMicroelectronics At ST, we are over 50,000 creators and makers of semiconductor technologies mastering the semiconductor supply chain with state-of-the-art manufacturing facilities. An integrated device manufacturer, we work with more than 200,000 customers and thousands of partners to design and build products, solutions, and ecosystems that address their challenges and opportunities, and the need to support a more sustainable world. Our technologies enable smarter mobility, more efficient power and energy management, and the wide-scale deployment of cloud-connected autonomous things. We are committed to achieving our goal to become carbon neutral on scope 1 and 2 and partially scope 3 by 2027. Further information can be found at www.st.com.
