DOE Announces $544 Million Loan to Boost Silicon Carbide Wafer Production for EVs

The loan aims to expand Michigan's SK Siltron CSS plant, enhancing electric vehicle charging and range capabilities.

The U.S. Department of Energy's conditional loan of $544 million supports the expansion of SK Siltron CSS's Michigan plant for silicon carbide wafer production.
The expansion is expected to create up to 400 jobs and position the plant among the top five global manufacturers of high-quality silicon carbide wafers by 2027.
Silicon carbide wafers improve electric vehicle performance by enabling faster charging times and extending range by 5-10%.
The loan is part of broader efforts to strengthen the U.S. semiconductor and electric vehicle manufacturing sectors.
SK Siltron must meet several conditions before the Department of Energy finalizes the loan.