Magnachip Semiconductor Corporation announced that it has reached an agreement with Hyundai Mobis Company Limited (MOBIS) to use advanced Insulated Gate Bipolar Transistor (IGBT) technology.
In this collaboration, Magnachip plans to expand its business. Hyundai Mobis is a leading global auto parts provider known for combining software and hardware to deliver innovative mobility solutions.
IGBTs (Insulated Gate Bipolar Transistors) are power semiconductors used in high-power systems that need both high voltage and high current. Market research from Omdia shows that the global IGBT market was worth over USD 11 billion in 2024, and it's expected to grow to USD 12.3 billion in 2025 and reach USD 16.9 billion by 2028.
IGBTs used in traction inverters for hybrid and electric vehicles (EVs) are experiencing fast market growth.
The efficiency and reliability of these IGBTs are crucial for the performance of inverters. As a result, only a few leading companies in the power industry can provide the stable mass-production capabilities needed for high-voltage and high-current products that dominate the market.
Understanding the growing need for in-house power semiconductor technologies in traction systems, MOBIS and Magnachip have worked together since 2015 to develop IGBTs for traction inverters.
In this partnership, MOBIS handled the structural design, while Magnachip focused on semiconductor process technology. After evaluating and validating the system, the two companies recently developed new IGBT products that meet the strict requirements of electric vehicles (EVs). MOBIS plans to start mass production of inverters using these IGBTs in 2026.
Executive Statement
According to Camillo Martino, CEO of Magnachip, this strategic partnership marks an important step in advancing our IGBT capabilities. The development of their new seventh-generation IGBT product family significantly enhances our portfolio and positions them to compete more effectively in high-performance, premium markets. Magnachip is actively targeting high-value opportunities in industrial, AI and renewable energy applications, which they expect to represent a larger share of our product mix in the coming years.