Wolfspeed is building a factory in Chatham County, North Carolina to make raw materials used for chips that power electric vehicles, the company said on Friday.
The total investment for the project could reach $5 billion over the next eight years and it is expected to create more than 1,800 new jobs.
The facility will be built on the Chatham-Siler City Advanced Manufacturing Site, an 1,802-acre site. The plant is expected to occupy 445 acres and become the largest silicon carbide materials facility in the world.
Wolfspeed chips are based on a material called silicon carbide that can handle high voltages and is more power efficient than traditional semiconductor technology used in computers and phones.
“The Chatham County facility will enable the increasing adoption of silicon carbide and will drive the dramatic growth of the technology as the power semiconductor market transitions from silicon to the much more efficient silicon carbide technology,” said Gregg Lowe, President and CEO of Wolfspeed.
Governor Roy Cooper noted that the announcement was “another milestone” in the state’s drive toward a sustainable industry.
“Today’s another step in our drive toward a clean energy economy,” Cooper said. “It’s an historic day for our economy and an amazing day for high-paying jobs”.