Hyundai Motor Group honors Infineon for supply competence and strategic cooperation for electric cars
Hyundai Motor Group (HMG) has honored Infineon Technologies AG (FSE: IFX / OTCQX: IFNNY) as “Partner of the Year 2021” with the “Special Award for Supply Competence.” The top global automaker recognized Infineon’s efforts to stabilize uncertain supply chains despite the challenges posed by COVID-19 and the global semiconductor shortage.
In particular, Infineon was honored for its excellent risk management working with HMG. Infineon Korea and Infineon Headquarters have provided flexible and strategic cooperation to manage the difficult situation in the market. For example, by providing the silicon carbide (SiC) based power module HybridPACK™ CoolSiC™ Drive, Infineon demonstrated product quality and its ability to respond to new requirements.
“Infineon is a reliable partner. We are honored that our efforts to maintain our delivery capabilities in a very challenging environment are valued and appreciated by our customers,” said Peter Schiefer, President of the Automotive Division at Infineon. “With the rapid momentum towards green mobility, semiconductor solutions are in high demand. We are driving the transformation toward electromobility with high-quality products, leading technology and system expertise, along with a global production network.”
The conversion to electromobility has just started. Almost every second of the BEVs (Battery electric vehicle) and PHEVs (Plug-in Hybrid) produced in 2021 use Infineon semiconductors in the inverter. In order to further strengthen the resilience of the supply chain, Infineon is continuously increasing its capacities in production and assembly of high-power solutions in Europe and Asia.
Furthermore, Infineon is strengthening its market leadership in power semiconductors by adding significant manufacturing capacities in the field of wide bandgap (SiC and gallium nitride, GaN) semiconductors. SiC can help to increase the range of an electric car by five to ten percent.
HMG has been awarding the “Partner of the Year” award since 2002. In early 2019, Infineon was the first semiconductor manufacturer to receive this award. It was awarded in recognition of outstanding achievements in just-in-time supply and contribution to strengthening the overall competitiveness of the Hyundai Motor Group.
Infineon Technologies AG is a world leader in semiconductor solutions that make life easier, safer and greener. Microelectronics from Infineon are the key to a better future. With around 50,280 employees worldwide, Infineon generated revenue of about €11.1 billion in the 2021 fiscal year (ending 30 September).
Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the over-the-counter market OTCQX International Premier (ticker symbol: IFNNY). Further information is available at www.infineon.com.
This press release is available online at www.infineon.com/press.