Triangle is home to a big player when it comes to making these tiny semiconductors that help power so many electronic devices, and President Joe Biden’s signing of the Chips Act could mean a big investment in the region.
News coverage you can count on. >> Triangle is home to a big player when it comes to making those tiny semiconductors that help power so many electronic devices. And what happened today could mean a big investment in this area. President Biden signed the Chips and Science Act into law. today. White House on the South Lawn. >> The President and CEO of Low-Speed was once named Cree. For those of you who have been around for a while, I was there. >> And tonight only on WRAL. Before leaving the Washington, DC airport, I spoke to Greg Low Moments about the importance of the law to the industry and the Triangle. Greg, except it’s incredibly hot today. Tell me about your experience in the White House. >> Well, it was a wonderful day at the White House. You know, the President signed the CHIPS Act into law, which protects about $53 million. Here in the United States you apologize for a billion dollars to the semiconductor you made. We are working very hard with our partners at the Semiconductor Industry Association to secure this funding, we are really glad the past is over and passed on by a group by a group. So we’re very excited about that. We’ve heard a lot about the semiconductor shortage, particularly how it’s affecting cars. >> How will these chips affect people’s daily lives? Do you think? Well, it’s going to build more American semiconductors in the United States. >> It will extend to technologies like silicon carbide where we know you, we are the buyers. where will the speed be? We are focused and will expand. building the capabilities in the US so we can take those capabilities and build them into electric cars and solar stations and their 5G networks and stuff like that. Therefore, it will have a direct impact on people. >>Yeah, sorry, I was so excited about that. In fact, Micron today announced a $40 billion investment in semiconductor manufacturing. What is the type of investment? OK, let’s look at the momentum that needs to be built. >> What facilities are we building in North Carolina. We want to expand our capacity in North Carolina. What’s happening right now is that the adoption of electric cars is happening much faster than expected, and the adoption of silicon carbide in electric cars is happening much faster. So the demand for our products is going through the roof and people wanting to use silicon carbide in an electric car is actually pretty easy with the same amount of batteries. Your car will go a long way. Up to 15% further. And that you see a solution to what’s called range anxiety, where when a car drives, people are actually hundreds of miles behind. My electric car has a range of 520 miles. Very beautiful. And I will be able to drive this car to work for a month without charging. It’s good. >> Well, actually I want to ask you about it. For example, Winfast, a maker of electric cars, has committed to building a manufacturing facility in Chatham County. As you just said, you work with EV companies. So what does that mean that what we’re hearing is likely to accelerate momentum by having a manufacturing facility in Chatham County. Well, of course we have the large >> capacity that we need. We will expand. We’re excited about the CHIPS Act because it will help us do that. But the chips law requires Macon to have local and state funding and so on. And we’re working very, very closely with the state of North Carolina to make that happen. So we’re excited about the opportunity not to announce anything at the moment. Working closely with local authorities and the state to ensure funding. >>Okay, let us know when you’re ready to announce it. We know this could mean over 1000 jobs in our field and this will be a very exciting new one. First up is Greg Low, President and CEO of Will Speed. Many Thanks