on March 28, U.S. Eastern Time, U.S. President Joe Biden visited Wolfspeed, Inc. in Durham, North Carolina. Headquarters, as the first stop of the "Invest in America" trip. President Biden emphasized that government projects are aimed at promoting manufacturing development in the United States, rebuilding national infrastructure, and strengthening supply chains. U.S. Commerce Secretary Gina Raimondo and North Carolina Governor Roy Cooper attended at the same time.

As an American company at the forefront of the transition from silicon-based products to silicon carbide technology, Wolfspeed continues to improve technological efficiency and energy conservation, and is committed to shaping the future of the semiconductor market. Investment from government projects will promote the progress of the semiconductor industry and promote the transformation of electric vehicles, faster 5G networks, the development of renewable energy and energy storage, and industrial applications.

Gregg Lowe, president and CEO of Wolfspeed, said: "We are honored to be the first stop of President Biden‘s trip to ‘invest in America‘. We will help the development of manufacturing in the United States and contribute to the position of North Carolina in science and technology. Silicon carbide is our core. Silicon carbide is essential to accelerate the adoption of electric vehicles, bring energy savings to users, and meet global emission reduction targets. Wolfspeed technology plays an important role in achieving the goals set by government projects, helping the United States take the lead in energy transformation and the semiconductor industry. We are very proud of this."

Wolfspeed currently produces more than 60% of the world‘s silicon carbide materials at its headquarters in Durham, North Carolina, and is also undergoing a capacity expansion plan of up to $6.5 billion to significantly increase production capacity. The capacity expansion plan includes the 200mm Mohawk Valley device plant opened in April 2022 and the 445-acre silicon carbide material plant under construction in North Carolina (John Palmour Silicon Carbide Manufacturing Center). The factory will increase the company‘s existing material production capacity by more than 10 times. The first phase of construction is expected to be completed in 2024.), and in February 2023, it was announced that a highly automated 200mm wafer manufacturing plant with cutting-edge technology will be built in Saarland, Germany.