According to Nikkei Asia, Toshiba and Fuji Electric jointly invested 200 billion yen (approximately US$1.9 billion) to increase the production of energy-saving chips for electric vehicles.

According to the report, in order to cope with the increase in production capacity of Japanese and Chinese automakers, Toshiba will invest about 80 billion yen until the fiscal year of March 2024 to increase production equipment at the plant in Ishikawa Prefecture, Japan, and will increase the wafer production capacity from the current 150,000 wafers to 200,000 wafers. In addition, Toshiba also plans to increase the sales of power semiconductors from the current 150 billion yen by 30% to 200 billion yen.

In the field of automotive power semiconductors, Fuji Electric will invest 120 billion yen at home and abroad by fiscal 2023. This fiscal year, the company's production capacity in Yamanashi Prefecture, Japan, will increase by 30% over fiscal 2019.

According to market data, the global power semiconductor market in 2019 was 1.46 trillion yen. Infineon leads the market, while Toshiba, Fuji Electric and Mitsubishi Electric have a 20% share.