Wales is set to benefit from a £250 million investment from one of the world’s largest manufacturers of semiconductors that will be vital to the production of electric vehicles.
The investment by Vishay Intertechnology will boost production at its state-of-the-art factory in Newport, where it will make advanced Silicon Carbide semiconductors, an integral part of EV production. This advanced technology supports faster battery charging time, enabling a more efficient supply of energy to the motor and longer driving distances.
Vishay’s investment is expected to directly support more than 500 high value, high skilled jobs in the region and indirectly support hundreds more in the wider supply chain. The Newport factory is the UK’s largest semiconductor facility.
Roy Shoshani, COO Semiconductors and CTO for Vishay, said:
“This is an exciting moment, and the start of our plans for growth in the UK. We can see through the development of the Industrial Strategy and the skilled workforce in Newport that there is a real opportunity to play to the UK’s strength in advanced semiconductors, delivering greater economic security and supporting net zero.”
Councillor Mary Ann Brocklesby, Leader, Monmouthshire Council, and Chair of Cardiff Capital Region said:
“This significant investment into the South East Wales compound semiconductor sector displays great confidence and shows the value of investment in the region.
“We welcome the news of this investment to develop the cluster, which has been a priority of Cardiff Capital Region, Welsh and UK Governments for several years.
“It is tremendous to see the benefits this will bring to the region in creating highly skilled jobs, accelerating our progress in the UK automotive industry, and positioning us as a competitor in not only UK investment, but also globally.”
Chancellor Rachel Reeves welcomed Vishay Intertechnology’s intention to invest on a visit to their Newport plant.
Chancellor of the Exchequer Rachel Reeves said:
“This is exactly the type of investment that will help us grow the economy, create highly skilled jobs and boost opportunity for people across the country.”
Supported by the UK Government’s Automotive Transformation Fund (ATF), the investment will help secure domestic supplies of semiconductors critical to the UK automotive industry, and other key industries including renewable energy and defence, supporting the Industrial Strategy.
First Minister of Wales Eluned Morgan said:
“Compound semiconductors are small but vital bits of our everyday lives and Wales is leading the way in their production and manufacture.
“I welcome the additional investment from the UK Government, which builds on the Welsh Government’s work over the last decade in supporting the growth of the semiconductor cluster. We are now reaping the rewards of our commitment, which we will continue to drive forward.”
Secretary of State for Wales Jo Stevens said:
“This massive investment by Vishay and the UK Government is a huge boost for Wales's world-leading semiconductor industry.
“Earlier this month I was at Vishay to see the work they do on advanced manufacturing, renewable energy and defence industries – all key sectors in the Welsh economy.”
Mike Hawes, Society of Motor Manufacturers and Traders Chief Executive, said:
“This significant investment in compound semiconductors is a huge contribution to the innovation and advanced technology necessary to drive the future of UK Automotive. British-made next-generation semiconductors will create jobs, support supply chains and enhance the UK’s strategic capabilities. Digitisation and decarbonisation are at the heart of the transition taking place amongst UK automotive manufacturers, and this investment can support that transition, aided by a comprehensive industrial strategy to deliver the growth the sector and the economy needs.”
