Cree Selected as Silicon Carbide MOSFET Partner for the Volkswagen Group FAST Program / Partnership will help accelerate market transition to EVs (FOTO)

DURHAM, N.C. (ots) -

Cree, Inc. (Nasdaq: CREE), the global leader in silicon carbide
(SiC) semiconductors, has been selected as the exclusive silicon
carbide MOSFET Partner partner for the Volkswagen Group's "Future
Automotive Supply Tracks" Initiative (FAST). The aim of FAST is to
work together to implement technical innovations quicker than before
and to realize global vehicle projects even more efficiently and
effectively.

"The Volkswagen Group has committed to launch almost 70 new
electric models in the next ten years, which is up from our pledge of
50 and increases the projected number of vehicles to be built on the
Group's electric platforms from 15 million to 22 million in that
timeframe. An effective network is our key to success. Our FAST
partners are our strategic partners, each of them outstanding in
their respective field. We want to shape the automotive future
together." said Mr. Michael Baecker, Head of Volkswagen Purchasing
Connectivity.

This agreement connects two simultaneous revolutions: the
automotive industry's move from internal combustion engines to EVs
and the growing adoption of silicon carbide in the semiconductor
market. It also drives innovation for both parties, enabling the
Volkswagen Group to better serve their customers.

The use of silicon carbide accelerates the automotive industry's
transformation to electric vehicles, enabling greater system
efficiencies that result in electric cars with longer range and
faster charging, while reducing cost, lowering weight and conserving
space.

"Cree's technology is at the heart of the dramatic change underway
in EVs, and we are committed to supporting the automotive industry as
it transitions to more efficient, higher performing silicon
carbide-based solutions," said Gregg Lowe, CEO of Cree. "We are very
honored to be partnering with the Volkswagen Group. VW Group is a
global power in the automotive field with a strong commitment to
electric vehicles, and this partnership will leverage the advantages
of silicon carbide to enable longer driving distances, shorter charge
times and improved efficiency. We look forward to helping them
deliver on the automobiles of the future."

The Volkswagen Group and Cree will be working with tier one and
power module suppliers to engineer silicon carbide-based solutions
for future Volkswagen Group vehicles. The partnership was announced
on May 10. This follows Cree's May 7 announcement of its significant
manufacturing capacity expansion of silicon carbide MOSFETs and
wafers in support of its customers.

About Cree, Inc. Cree is an innovator of Wolfspeed® power and
radio frequency (RF) semiconductors and lighting class LEDs. Cree's
Wolfspeed product families include silicon carbide materials,
power-switching devices and RF devices targeted for applications such
as electric vehicles, fast charging, inverters, power supplies,
telecom and military and aerospace. Cree's LED product families
include blue and green LED chips, high-brightness LEDs and
lighting-class power LEDs targeted for indoor and outdoor lighting,
video displays, transportation and specialty lighting applications.

For additional product and Company information, please refer to
www.cree.com.

Forward Looking Statements:

This press release contains forward-looking statements involving
risks and uncertainties, both known and unknown, that may cause
actual results to differ materially from those indicated. Actual
results may differ materially due to a number of factors, including
the timing of the transition to using silicon carbide devices in EVs;
Cree's ability to develop and design silicon carbide devices that
will continue to improve performance in the EV market; the risk that
Cree may be unable to manufacture these products with sufficiently
low cost to offer them at competitive prices or with acceptable
margins; the risk Cree may encounter delays or other difficulties in
ramping up production of its capacity to supply these products;
customer acceptance of EVs using Cree's silicon carbide devices; the
rapid development of new technology and competing products that may
impair demand or render Cree's products obsolete; and other factors
discussed in Cree's filings with the Securities and Exchange
Commission, including its report on Form 10-K for the year ended June
24, 2018, and subsequent filings.

Cree® and Wolfspeed® are registered trademarks of Cree, Inc.

Media Contact:
Dr. Michael Kambeck
Ogilvy Public Relations
presse_cree_wolfspeed@ogilvy.com
+49-(0)211-49700-711

Original-Content von: CREE Inc., übermittelt durch news aktuell