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Semiconductors

Japan's Renesas pours $700m into doubling power chip production

Shuttered plant to be reopened with upgraded equipment as EV demand grows

Renesas Electronics' investment marks a shift from the "fab-lite" strategy of consolidating domestic bases and minimizing factories. (Image courtesy of Renesas Electronics)

TOKYO -- Japanese chipmaker Renesas Electronics will invest 90 billion yen ($700 million) to increase production of power semiconductors as demand for electric vehicles surges, the company said Tuesday.

Renesas intends to reopen its Kofu factory in central Japan's Yamanashi Prefecture in 2024. New equipment compatible with 300 mm wafers, suited for mass production, will be installed as the company looks to double output capacity for the chips.

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