onsemi and ZEEKR Sign Long-Term Supply Agreement for Silicon Carbide Power Devices

onsemi (Nasdaq: ON), a leader in intelligent power and sensing technologies,
and premium electric mobility brand ZEEKR today announced a long-term supply
agreement (LTSA) between the two companies. onsemi will provide its EliteSiC
silicon carbide (SiC) power devices to increase the powertrain efficiency of
ZEEKR’s smart electric vehicles (EVs), resulting in improved performance,
faster charging speeds and extended driving range.

“A reliable supply chain is critical to business success and, after
significant investments in our SiC end-to-end supply chain, onsemi can offer
this strategic value to customers”

To support its expanding portfolio of high-performance EVs, ZEEKR will adopt
onsemi EliteSiC MOSFET, 1200V, M3E with enhanced electrical and mechanical
performance and reliability. These power devices deliver improved power and
thermal efficiency, which reduces the size and weight of the traction
inverter and enhances the range of the automaker’s EVs.

“With cutting-edge technologies such as advanced SiC, ZEEKR will be able to
offer electric vehicles with improved performance and even lower carbon
emissions,” said Andy An, CEO of ZEEKR Intelligent Technology. “As a brand
committed to sustainability, ZEEKR will continue to explore different ways
to accelerate the transition towards new energy vehicles.”

The new LTSA will enable both companies to build a stronger supply chain
relationship to support ZEEKR’s growth over the next decade.

“A reliable supply chain is critical to business success and, after
significant investments in our SiC end-to-end supply chain, onsemi can offer
this strategic value to customers,” said Hassane El-Khoury, president and
CEO, onsemi. “This agreement will help our continued ramp of SiC operations,
enabling us to offer industry-leading power devices that help our customers
deploy the most efficient and highest performing EVs on the market.”

ZEEKR is a premium electric mobility brand built to address the global
demand for premium EVs. Utilizing Geely’s advanced Sustainable Experience
Architecture (SEA), ZEEKR develops in-house battery technologies, battery
management systems, electric motor technologies and electric vehicle supply
chain support.

About onsemi

onsemi (Nasdaq: ON) is driving disruptive innovations to help build a better
future. With a focus on automotive and industrial end-markets, the company
is accelerating change in megatrends such as vehicle electrification and
safety, sustainable energy grids, industrial automation, and 5G and cloud
infrastructure. onsemi offers a highly differentiated and innovative product
portfolio, delivering intelligent power and sensing technologies that solve
the world’s most complex challenges and leads the way to creating a safer,
cleaner, and smarter world. onsemi is recognized as a Fortune 500R company
and included in the S&P 500R index. Learn more about onsemi at
www.onsemi.com.

About ZEEKR

ZEEKR is the global premium electric mobility brand from Geely Holding
Group. ZEEKR aims to create a fully integrated user ecosystem with
innovation as standard. The brand utilizes Sustainable Experience
Architecture (SEA) and includes its own battery technologies, battery
management systems, electric motor technologies and electric vehicle supply
chain. ZEEKR’s value is equality, diversity, and sustainability. Its
ambition is to become a true mobility solution’s provider.

ZEEKR began delivery of its first product, ZEEKR 001 in October 2021 and
started delivery of ZEEKR 009 MPV in early 2023. It has an ambitious
roll-out plan over the next 5 years to satisfy the rapidly expanding global
EV demand. In April 2023, the 100,000th ZEEKR car rolled off its
manufacturing base in Ningbo, China.

ZEEKR plans to start delivering cars in Europe in the fourth quarter of this
year.