The electric vehicle industry is an emerging market with huge market space. With the development of electric vehicles, the demand for power semiconductor devices is increasing. The electric vehicle scale is 800V high-voltage fast-charging platform, which is equipped with silicon carbide. As the endurance problem has gradually become the focus of the development of electric vehicles, high-voltage fast charging has become the general trend. The 800V fast charging platform, which is conducive to greatly improving the charging performance and vehicle operation efficiency, has been accelerated. Its research and development puts forward higher requirements on the insulation and high temperature resistance of the motor. Compared with silicon-based IGBT, which has reached the material limit, silicon carbide is more conducive to improving space utilization and power efficiency due to its advantages of high temperature resistance, has a higher comprehensive benefit. The development of the 800V high-voltage fast-charging platform is heavy, driving vehicle life and vehicle efficiency. The accelerated penetration of electric vehicles puts forward higher requirements for vehicle endurance and charging rate, and the 800V high-voltage platform is more in line with the development needs of the times than the 400V platform.

Sales of new energy vehicles continue to increase, silicon carbide market space is broad. With the support of local government subsidies, tax rebates and other policies, as well as the continuous improvement of charging infrastructure, the sales volume and proportion of new energy vehicles in the world continue to rise. In 2021, 6.5 million new energy vehicles were sold, up 109 year on year, accounting for 9% of the total global vehicle sales. It is estimated that by 2025, the sales volume of new energy vehicles will exceed 21 million, Among them, the penetration rate of silicon carbide in the field of new energy vehicles is expected to exceed 20%.

With the growth of sales of new energy vehicles and the increasing demand for silicon carbide wafers for silicon carbide power devices, according to Jibang Consulting data, it is estimated that by 2025, the global electric vehicle market will demand 1.69 million 6-inch silicon carbide wafers.