Magnachip Semiconductor Corporation has struck a deal with Hyundai Mobis Company Limited (MOBIS). They will use high-performance Insulated Gate Bipolar Transistor (IGBT) technology. They plan to grow their business based on this technology. Hyundai Mobis is a worldwide auto parts supplier. It provides unique mobility solutions that blend software and hardware.
IGBTs are power semiconductors for high-power systems that need high voltage and current. Omdia reports that the global IGBT market was worth over $11 billion in 2024. It is expected to rise from $12.3 billion in 2025 to $16.9 billion by 2028.
IGBTs used in traction inverters targeted for hybrid electric vehicles and electric vehicles (EVs) are experiencing rapid market growth. Since the efficiency and reliability of IGBTs significantly impact inverter performance, only a few power industry market leaders can offer the stable mass-production capabilities required for high-voltage and high-current products that currently lead the market.
Recognizing the increasing importance of internalizing core power semiconductor technologies for traction systems, MOBIS and Magnachip have collaborated since 2015 on the development of IGBTs for traction inverters. Under this partnership, MOBIS has led the structural design, while Magnachip has contributed its expertise primarily in semiconductor process technology. Following system-level evaluation and validation, the two companies recently developed new IGBT products that meet the stringent requirements of EVs. MOBIS currently plans to begin mass production of inverters incorporating these IGBTs in 2026.
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Furthermore, Magnachip is leveraging the jointly-developed design technology to drive further development and commercialization of its own IGBT products. As part of these efforts, the Company plans to launch a new series of industrial IGBTs in the first half of next year, in line with its strategy to strengthen technological competitiveness and solidify its position in the global power semiconductor market, with a focus on the industrial, AI, and renewable energy markets.
“This strategic partnership marks an important step in advancing our IGBT capabilities,” said Camillo Martino, CEO of Magnachip. “The development of our new seventh-generation IGBT product family significantly enhances our portfolio and positions us to compete more effectively in high-performance, premium markets. Magnachip is actively targeting high-value opportunities in industrial, AI and renewable energy applications, which we expect to represent a larger share of our product mix in the coming years.”