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Company news
SMEC Joins Industry Giant to Set up UNT Power, Committed
SMEC Joins Industry Giant to Set up UNT Power, Committed to Becoming Industry Benchmark

On October 24th, SMEC announced an investment to establish UNT Power  (Shaoxing) Co., Ltd. (hereinafter referred to as "UNT Power") with a registered capital of 500 million RMB. UNT Power is a one-stop system solution provider for automotive-grade Silicon Carbide (SiC) manufacturing and module packaging. Founding shareholders include SMEC,Xinlian, Boyuan Capital, Xiaopeng Xinghang Capital, Luxshare Precision Family Office Liling Fund, SAIC Shangqi Capital, Hengxu Capital, Ningde Chendao Investment, Sungrow Power, and other well-known industrial investment institutions in the new energy sector, including automotive and energy.

Silicon Carbide's unique advantages lie in its high voltage, high frequency, and low consumption characteristics, which can maximize energy conversion efficiency. With technological breakthroughs and cost reductions, Silicon Carbide power devices are being widely applied in various fields, including new energy electric vehicles and charging stations, making it a prominent trend in the industry.

On a global scale, the market share of Silicon Carbide is still predominantly held by international giants, while domestic manufacturers are in a catch-up phase. However, as the largest application market in the new energy industry, China has the capability to nurture its own leading Silicon Carbide enterprises, and UNT Power's goal is to become a leader in this field. One of UNT Power's major shareholders, SMEC, is one of the few domestic companies capable of achieving large-scale production of Silicon Carbide MOS. Their output of automotive-grade Silicon Carbide MOS products significantly surpasses domestic competitors, with a production capacity of 2,000 wafers per month (6 inches) as of the end of June 2023.

Boyuan Capital stated: With the increasing value of power semiconductors in new energy vehicles, the new generation of semiconductors, represented by Silicon Carbide, is in a high-growth phase. UNT Power is one of the few domestic wafer foundry companies providing automotive-grade Silicon Carbide chips. The company possesses a complete production line capacity and strong technical research and development capabilities, which will accelerate the implementation of the next generation of technology.

Shangqi Capital (SAIC Group's industrial investment platform) stated: As a global leading supplier of Silicon Carbide power devices, UNT Power possesses extensive experience in the development and quality control of power devices in production. This aligns well with Shangqi Capital's strategic focus in the new energy vehicle sector. Silicon Carbide power products have a promising future and clear direction, and they are on the verge of an industry breakthrough. As an entire vehicle CVC platform, Shangqi Capital hopes to collaborate with UNT Power's excellent team to accelerate industry adoption and product implementation, ultimately shaping the company into a leading player in the new generation of power devices in China and the world.

Xinghang Capital (Xpeng Motors industrial investment platform) stated: Xpeng Motors is the first domestic automaker to mass-produce vehicles with an 800V Silicon Carbide high-voltage platform, and we continue to pay attention to high-quality domestic Silicon Carbide companies. UNT Power has accelerated the domestic production of Silicon Carbide products through its research and development efforts in main drive inverter Silicon Carbide chips and modules. Throughout our collaboration, their extensive experience in research and production has left a deep impression on us. We are delighted to see UNT Power gaining recognition from numerous industry investors and believe that the company will make a significant contribution in the electric vehicle wave, providing high-quality "Chinese cores" for users nationwide and globally.

Ningde Chendao Capital stated: With the development of the electric vehicle and renewable energy storage industries towards high voltage and high current, the importance of Silicon Carbide (SiC) is becoming increasingly prominent. UNT Power's SiC device and module products are technologically advanced, belonging to the first echelon globally. It is also the only mature domestic SiC supplier used in the main drive of new energy vehicles. We look forward to close collaboration with UNT Power in the future, using this partnership as a bridge to explore various forms of cooperation in the field of power semiconductors.

Liling Fund (Luxshare Precision Family Office) expressed: Over the past 5 years of collaborative development in the global industry, the replacement of SiC devices for silicon-based devices in automotive electronics applications has become a clear trend. We are currently at a critical stage of the industry's second acceleration, and the next major production milestone is approaching. UNT Power's team has accumulated deep expertise and achieved outstanding results in this field, and as a new phase of the industry begins, they have the determination and capability to compete with global industry leaders. We look forward to deepening our cooperation in both industry and capital and working together to promote the development of third-generation power semiconductor platforms.

As the CEO of SMEC and the company's major shareholder, Michael Zhao stated: SMEC has become a pivotal force in core chip manufacturing for the new energy industry. Over 80% of the company's revenue comes from new energy applications, such as new energy vehicles and wind and solar energy storage. Through this collaboration with important industry partners, the aim is to achieve technological leadership and large-scale production in SiC MOS, supporting domestic independence, technical advancement, and sufficient scale in high-end applications of new energy vehicles and energy storage. This, in turn, will establish a solid foundation for device-level innovation, allowing the domestic new energy industry to maintain its leading position and rapidly iterate for further development.

Frankie Yuan, Chairman of UNT Power, stated: China's new energy industry has gradually become a global leader, driving the acceleration of the industry chain, rapid product iteration, and continuous technological innovation. SMEC and UNT Power are committed to providing chip-based system solutions for the development of China's new energy, supporting the industry's upgrades and innovations. The establishment of UNT Power, through the joint investment of SMEC and various industry giants, is primarily aligned with the company's development strategy and business needs. It aims to introduce the upstream and downstream of the industry chain, promote vertical integration, and realize a complete industry chain layout, ultimately creating a sustained global leadership position in the emerging strategic field of Silicon Carbide.