By Greg Gao

(JW Insights) Jun 27 -- Chinese electric vehicle power solutions provider Shinry Technologies(欣锐科技) has announced a deal with US semiconductor firm Wolfspeed to enter the supercharging station business, reported Yicai Global on June 26.

Shinry has been working since 2013 with Wolfspeed, known as CREE before 2021, and the two firms have jointly developed the world's first onboard power supply with a conversion efficiency of 96 percent, the Shenzhen-based firm said.

Shinry said its two-way charging and discharging and silicon carbide technologies are industry-leading in China, adding that together with Wolfspeed it will develop Silicon Carbide Metal Oxide Semiconductor Field-Effect Transistors for new energy vehicles and charging piles.

On June 20, Shinry released a first-generation Super Charger Module supercharging station solution and launched two different power supercharging modules of 60 kW and 75 kW.

Shinry stated that this cooperation will help Wolfspeed's SiC products penetrate the huge new energy vehicle market faster and expand Wolfspeed's market share in SiC products globally.

Founded in 2005 and listed in the Shenzhen Stock Exchange in 2018, Shinry is a global Tier 1 supplier of charging & distribution solutions for new energy vehicle. The company produces automobile power supply converters, automobile chargers, and other products.

According to its financial report, Shinry’s operating revenue reached RMB1.5 billion ($232.5 million) in 2022, an increase of 62 percent from the previous year, but it had a net loss of RMB28.1 million ($4.4 million), compared with net profit of RMB25.5 million in 2021, said the Yicai Global report.