ON Semiconductor (ON) and Magna (MGA) announced a long-term supply agreement, or LTSA, for Magna to integrate onsemi’s EliteSiC intelligent power solutions into its eDrive systems. Simultaneous with the signing of the LTSA, the companies entered a separate agreement for Magna to also invest approximately $40M for the procurement of new SiC equipment at onsemi’s New Hampshire and Czech Republic facilities to ensure access to future supply.
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