SK Siltron, a semiconductor wafer manufacturer from South Korea, announced on September 10 that its board of directors has approved a $450 million acquisition of DuPont’s silicon carbide wafer business.

According to SK Siltron’s plan, after obtaining approval from relevant domestic and foreign departments, the acquisition can be completed within this year.

According to relevant reports, the demand for silicon carbide wafers has risen sharply as global automakers are expanding the electric vehicle production. However, due to the fact that only a few manufacturers around the world are able to mass produce such materials, the current global demand for silicon carbide wafers is in short supply.

Currently, the market is dominated by manufacturers in the US and Japan. Some experts said that SK Siltron’s acquisition of SiC wafer business from DuPont will help the company expand its market share.