Founded in 2019, Taiwan-based Fast SiC Semiconductor has transitioned its business focus from consumer electronics to EV charging, energy storage systems and industrial control systems. The company has entered the China market.
Cheng-Tyng Yen, founder and CEO of Fast SiC, said developing high-power fast charging technology has become the shared goal for companies as it can mitigate range anxiety. Therefore, more efficient power semiconductors are necessary.
He said the demand resulting from EV chargers has grown fast. The segment, together with energy storage and industrial control systems, account for most of Fast SiC's deliveries, followed by EVs. He added that the company has delivered samples to customers. It has also expanded to the China market and has been engaged with Japan-based companies.
While Fast SiC is a startup, Yen said the company is competitive in cost management due to its advantages of patents and design. Its product performance and quality also meet the high standards of carmakers, tier-one suppliers or charger makers.
STMicroelectronics, Infineon and other leading companies currently dominate the SiC and GaN markets. Yen said things might change in the next two to three years as the applications increase and the market size grows.
Industry sources said portable chargers, wall chargers and superchargers are the three major EV chargers in the market that endure different voltages. SiC and GaN semiconductors, adopted in fast charging, tolerate high voltage, high temperature and offer enhanced efficiency.
Statistics show that charging modules take up 41% of the costs for a 180kW DC charger, the most among all the components. Power semiconductors like IGBT devices and SiC modules are the most valuable components in a charging module.
According to DIGITIMES Research, China had the most chargers for its EVs in 2022 compared with Europe and the US, with a vehicle-charger ratio of 7.3:1. About 42.3% of the chargers in China supported fast charging while Europe and the US saw the proportion at 14% and 21.6%, respectively.
