Mitsubishi Elec to acquire plant from Sharp to boost EV power chip output

[TOKYO] Japan's Mitsubishi Electric Corp said on Thursday it would invest about 20 billion yen (S$260.1 million) to buy a plant in western Japan from Sharp Corp to meet growing demand for power semiconductors used in electric vehicles.

The plant, set to begin operating in November next year, will process wafers for power chips, said Mitsubishi, a major supplier of such chips to Toyota Motor Corp.

REUTERS