1. Xiaomi has a stake in Innolink Power Technology (Shaoxing) Co., Ltd.: Recently, Xinlian Power Technology (Shaoxing) Co., Ltd. has undergone industrial and commercial changes, adding 18 shareholders including Beijing Xiaomi Intelligent Manufacturing Equity Investment Fund Partnership (Limited Partnership). The registered capital of the company increased from RMB500 million to approximately RMB660 million. SILINTECH focuses on one-stop system solutions for automotive-grade silicon carbide (SiC) manufacturing and module packaging.
2. Background and cooperation of Xinlian: Founded in October 2023, Xinlian Power spun off the silicon carbide business by Xinlian Integration, and jointly established with Bosch, Xpeng, Luxshare Precision, SAIC, CATL, Sungrow and other upstream and downstream enterprises related to new energy, automobiles and semiconductors. SILINT has signed a long-term strategic cooperation agreement with GAC Aion, which will provide high-performance silicon carbide MOSFET and silicon-based IGBT chips and modules for all new models of GAC Aion.
3. Xiaomi's layout in the field of silicon carbide: Xiaomi's layout of silicon carbide is mainly reflected in the automotive business and related supply chain investment. Xiaomi's SU7 car is equipped with silicon carbide chips in the main drive, on-board power supply, thermal management and charging network, showing Xiaomi's emphasis on silicon carbide technology. In addition, Xiaomi has also participated in the financing of companies such as Jiefang Semiconductor and Zhanxin Electronics to further improve its supply chain layout in the field of silicon carbide.
4. Silicon carbide market prospects: With the promotion of new energy vehicles, 5G communications, industrial control and big data applications, silicon carbide has become the focus of the industry, attracting many manufacturers to layout, Xiaomi is one of them. According to a report by TrendForce, the penetration of silicon carbide in applications where power density and efficiency are extremely important, such as automobiles and renewable energy, is still accelerating, and the overall market demand will continue to grow in the next few years, with the global silicon carbide power device market expected to reach $9.17 billion in 2028.
