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Magnachip Semiconductor Corporation has announced a strategic agreement with Hyundai Mobis Company Limited (Mobis) focused on the deployment and commercialization of high-performance Insulated Gate Bipolar Transistor (IGBT) technology. This collaboration supports Magnachip’s broader plan to expand its power semiconductor portfolio, with particular emphasis on high-growth automotive and industrial applications.
IGBTs are essential power devices used in high-voltage, high-current systems such as electric vehicle (EV) traction inverters. According to Omdia, the global IGBT market exceeded $11 billion in 2024 and is forecast to grow from $12.3 billion in 2025 to $16.9 billion by 2028, driven largely by demand from hybrid and battery electric vehicle platforms.
In the context of this accelerating market, Magnachip and Mobis have worked together since 2015 to co-develop IGBT solutions tailored for EV traction inverters. Under the collaboration, Mobis led structural design, while Magnachip contributed semiconductor process expertise. This long-term partnership has recently resulted in the development of new IGBT products that have successfully passed system-level evaluations and meet the stringent reliability and efficiency requirements of EV systems. Mobis plans to begin mass production of traction inverters using these jointly-developed IGBTs in 2026.
Magnachip also plans to leverage the co-developed IGBT design platform to drive its own product roadmap. The company expects to launch a new line of industrial-grade IGBTs in the first half of 2026 as part of its broader strategy to strengthen its position in the global power semiconductor market. The targeted end markets include industrial automation, AI infrastructure, and renewable energy systems.
“This strategic partnership marks an important step in advancing our IGBT capabilities,” said Camillo Martino, Chief Executive Officer 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.”
The company emphasized that expanding into the IGBT segment aligns with its transformation into a focused power semiconductor business and supports its long-term objective of capturing value in advanced, energy-efficient systems worldwide.
Original – Magnachip Semiconductor
