U.S. Commerce Department Grants '1 Trillion Won' To Coincidental Semiconductor Companies

Wolfspeed, an American semiconductor company based in North Carolina, a rival state for the U.S. presidential election, will receive $750 million in semiconductor subsidies and about 1 trillion won in our money.

The U.S. Department of Commerce says Wolfspeed is subsidizing the construction of a new silicon carbide wafer manufacturing plant in North Carolina.

Wolfspeed is a maker of semiconductor components for electric vehicles at General Motors and Mercedes, manufacturing wafers using silicon carbide that is more energy efficient than conventional silicon.

The Commerce Department said Wolfspeed's products are also being used in renewable energy systems and industrial artificial intelligence applications, and described the grant as a meaningful decision to reignite semiconductor production in the United States.

Wolfspeed CEO Greg Lowe also welcomed the grant, saying he believes the announcement proves Wolfspeed's importance in the U.S. economy and national security.