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GM will participate in the so-called (and unproven) Wolfspeed Assurance of Supply Program, which “is intended to secure domestic, sustainable and scalable materials for EV production.”

General Motors (NYSE: GM) and Wolfspeed (NYSE: WOLF) today announced a supplier agreement to develop and provide silicon carbide power devices for GM’s future electric vehicle programs. Wolfspeed’s silicon carbide devices will allow GM to “install more efficient EV propulsion systems that will extend the range” of its growing EV portfolio. The silicon carbide involved will be used in the integrated power electronics contained within GM’s Ultium Drive units in its next-generation EVs. (Environmental About Face – General Motors Ditching Internal Combustion Engines by 2035. Carbon Neutral by 2040?; GM Needs Range, Battery Cost Cuts to Speed EV Plans; GM Ups Bet by $35B in Autonomous, Electric Vehicle Games)

In a move that is designed to ensure supply and assuage the doubts of the capital markets about the semi-conductor shortage disaster, as part of the agreement, GM will participate in the so-called (and unproven) Wolfspeed Assurance of Supply Program (WS AoSP), which “is intended to secure domestic, sustainable and scalable materials for EV production.” During September, Toyota outsold General Motors by 123,000 units. In fact September was such a weak month for GM that four other OEMs had stronger volume performance, with Hyundai topping GM for the first time ever. Continue reading →