Automotive-grade IGBT modules continue to increase in volume

At the press conference on March 28, Xiaomi CEO Lei Jun officially announced the prices of various versions of Xiaomi SU7. At the same time, Lei Jun announced the special launch of 5,000 Xiaomi SU7 Founder Editions. In addition to the optional standard and Max versions, the Founder Edition also has exclusive car logos, accessories and other benefits. Due to early production, no optional configuration is available, so the relevant models can be delivered first, and the non-Founder Edition Xiaomi SU7 Standard and Max versions will start delivery at the end of April, and the Pro version will start delivery at the end of May.

A few days later, on April 3, the first batch of Xiaomi Auto Founder Edition was delivered. At the delivery site in the final assembly workshop of the Xiaomi Auto Factory in Yizhuang, Beijing, Lei Jun personally handed the car to the owner and took photos with the owner, then waved and watched each owner leave. Topics such as "I am so happy that I feel dizzy" and "The billionaire boss opened the car door for me" were also very popular.

The use of IGBT has increased sharply, but the expansion speed of the upstream industry chain has obviously not kept up with market demand. In February this year, the industry issued a warning that IGBT may become a bottleneck in automobile production in the second half of this year.

01. IGBT is the IGBT of new energy vehicles

IGBT accounts for more than 5% of the total cost of new energy vehicles, second only to batteries . Motors and motor controllers are the core components of new energy vehicles and directly determine the driving performance of the vehicle. In motor drives , IGBTs are mainly found in inverter modules. The function of the inverter is to convert direct current into alternating current to provide drive motors.

Data from Beidou Aerospace Automobile shows that the motor and motor controller account for about 4% and 9% of the vehicle cost respectively. Inside the motor controller, the IGBT module accounts for about 37% of its cost. Therefore, the IGBT module accounts for about 5% of the vehicle cost. If IGBT is added to the vehicle air conditioning control system , the cost proportion is even higher.

In addition, high-power electric vehicles will also have higher and higher requirements for IGBT, which will indirectly increase the cost of IGBT in the entire new energy vehicle. IGBT is a composite power semiconductor device composed of bipolar junction transistor (BJT) and MOSFET . It combines the high voltage resistance of BJT and the high input impedance of MOSFET , making it the " CPU " and core component of new energy vehicles.

IGBT directly controls the conversion of DC and AC in the drive system, and determines the maximum output power, torque and other key data of new energy vehicles. The core of electric vehicles lies in the high-voltage (200-450V DC) battery and its related charging system.

The main motor drive of electric vehicles usually requires a power device with a drive power of 20-150kW and an average power of about 70kW. Due to the high drive power and voltage and high energy consumption sensitivity, electric vehicle manufacturers often use IGBT modules with low on-state voltage drop and high operating voltage. It can be seen that compared with silicon-based MOSFET, IGBT is more suitable for high-voltage operation, and the two complement each other.

In electric drive systems , IGBTs are used in inverter modules to convert DC power from the battery into AC power to drive the motor. In power supply systems, IGBTs are used in various AC-DC and DC-DC converters to charge the battery and perform power level conversion functions.

In addition, electric vehicle charging stations use IGBT inverter power modules to invert DC power into AC power, and then transform it into different current and voltage specifications through transformer coupling and rectification units to facilitate electric vehicle charging. From the perspective of market competition, IGBT is currently dominated by major European and Japanese manufacturers, and the top five companies account for more than 60% of the market share.

According to statistics from Minsheng Securities, Infineon Technologies currently has a market share of 32.7%, making it an absolute giant in the IGBT field. In terms of application solutions, Infineon has launched the automotive IGBT module FS820R08A6P2B, which has a matching emitter-controlled diode to meet automotive application requirements.

According to reports, Infineon's 750V HybridPACK drive module is an ultra-compact power module optimized for hybrid and electric vehicle main inverters ( xEV ). This product series provides maximum voltage and power scalability, with six different package versions covering a power range of 200A-900A and a voltage range of 400V-1200V ( chip rating). The use of direct solder cooling (DSC) technology not only provides ample expansion possibilities, but also improves efficiency by 25%.

Infineon offers a diverse portfolio of IGBTs with different voltage and current levels, including bare chips, discrete devices, power modules and assemblies. The wire-bonded FS820R08A6P2B (820A/750V) is a six-pack module optimized for 150kW inverters. The power module uses EDT2 IGBT chips and adopts the automotive micro-patterned trench field stop cell design.

The chip offers benchmark current density , excellent short-circuit withstand, enhanced voltage blocking capability, ensuring reliable operation even in harsh environmental conditions. The EDT2 IGBT also exhibits excellent light-load power losses, helping to significantly improve system efficiency in real cycles. The chip is optimized for switching frequencies in the 10kHz range.

In terms of value, IGBTs account for about 37% of the total cost of new energy vehicle electronic control systems . They are one of the most critical electronic components in the control system. The higher the degree of electrification, the higher the proportion of IGBTs in the vehicle. It is estimated that by 2025, the global new energy vehicle IGBT market will reach nearly US$4 billion, with a five-year compound annual growth rate (CAGR) of 39.4%, and the market potential is huge.

At present, the entire automotive IGBT market is facing a serious supply shortage due to the mismatch between the explosive demand for new energy vehicles and the supply expansion cycle. As early as 2022, there were reports in the industry that ON Semiconductor Shenzhen Factory's 2023 IGBT production capacity has been sold out, and the company has stopped accepting new IGBT orders to reduce the risk of non-delivery. This move shows the current high market demand for automotive-grade IGBTs. Some supply chain manufacturers said that there is no sign of easing the supply and demand gap for automotive-grade IGBTs in 2023.

02. Large manufacturers compete for production capacity

The supply-demand imbalance caused by the tight production capacity of automotive-grade IGBTs has existed for a long time, and the automotive industry chain market began to compete for production capacity last year. Specifically, the following are some well-known manufacturers and their strategies in competing for automotive-grade IGBT production capacity:

As an important domestic enterprise, Silan Microelectronics has actively deployed in the new energy vehicle market. In the field of discrete devices, Silan Microelectronics' revenue in 2023 reached 4.832 billion yuan, a year-on-year increase of 8.18%. IGBT product revenue reached 1.4 billion yuan, a significant year-on-year increase of 140%. The company's independently developed electric vehicle main motor drive module has been mass-produced by many customers and is expected to continue to grow in the future. The company expects IGBT to achieve full production in 2024 and plans to further expand its share of the photovoltaic market in the future.

In addition, Silan Microelectronics' automotive PIM modules, LVMOS single tubes, IGBT single tubes and other products have been mass-produced, SiC products have also been successfully installed in vehicles, and it has established cooperative relationships with customers such as Geely, Lingpao, and Weimaisi. Silan Microelectronics is accelerating its layout in the new energy field, and the construction of SiC production lines is progressing smoothly. It is expected that the production capacity will be greatly increased by the end of 2024. The company's independently developed SiC-MOSFET products have been mass-produced, and the annual revenue is expected to reach 1 billion yuan.

The company's products that have entered the new energy vehicle market in large quantities include PIM modules, LVMOS single tubes, IGBT single tubes, etc. The current monthly sales are close to 100 million yuan. It is expected that the sales in the new energy vehicle market in 2024 will rank first in the company's sales in various market segments.

In terms of IGBT, the 12-inch line is accelerating the adjustment of its product structure in the third quarter of 2023, reducing the output of low-value-added products, and IGBT products are still in the process of increasing in volume, so the production capacity rate is not currently fully utilized; currently, the 12-inch line IGBT production capacity is 25,000 pieces/month, and the actual output is more than 15,000 pieces/month. As the subsequent IGBT increases in volume, the capacity utilization rate will rebound significantly, and is expected to reach more than 90%.

As a well-known German company, Infineon has deep technical accumulation in the field of IGBT. The company continues to launch innovative IGBT products to meet the market's demand for high performance and high efficiency. As a long-established Japanese company, Mitsubishi Electric Corporation also has a good performance in the field of IGBT. The company focuses on technology research and development and product innovation, and continuously improves the performance and reliability of its products by launching new IGBT modules and IPM modules . Mitsubishi Electric's IGBT products are widely used in industrial control and variable frequency home appliances.