MagnaChip to expand its industrial IGBT business

Magnachip (MX) “announced it has concluded an agreement with Hyundai Mobis Company Limited (hereinafter “MOBIS”) regarding the use of high-performance Insulated Gate Bipolar Transistor – IGBT – technology, and plans to expand its business based on this technology. Hyundai Mobis is a global auto parts provider focused on delivering differentiated mobility solutions that combine software and hardware. IGBTs are power semiconductors used in high-power systems that require both high voltage and high current. According to market research firm Omdia, the global IGBT market value exceeded $11 billion in 2024 and is projected to grow 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 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.”