Infineon Technologies AG logo is seen during German Economy Minister Robert Habeck and Foreign Minister Annalena Baerbock's visit, in Dresden, Germany July 13, 2023.
REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsBERLIN, Oct 18 (Reuters) - German chip manufacturer Infineon (IFXGn.DE) said on Wednesday it has signed a multi-year agreement with Hyundai and Kia to supply power semiconductors for the production of electric cars.
Infineon will build and reserve manufacturing capacity to supply silicon carbide and silicon power modules and chips to Hyundai and Kia until 2030, with the two carmakers to support the project with financial contributions, Infineon said in a statement.
"This partnership not only empowers Hyundai Motor and Kia to stabilise its semiconductor supply but also positions us to solidify our leadership in the global EV (electric vehicle) market," Heung Soo Kim, Hyundai's Executive Vice President, said in a statement.
Reporting by Rachel More, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.
Robert Habeck, Annalena Baerbock's, Annegret, Heung Soo Kim, Rachel More, Louise Heavens
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