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Gree Electric Appliances plans to begin mass production of silicon carbide chips in 2024, targeting photovoltaic energy storage systems and logistics vehicles. The Zhuhai-based company, which has already produced over two million chips for household applications, aims to replace half of the automotive chips used by GAC Group with its products. With a new factory capable of producing 240,000 six-inch wafers annually, Gree anticipates cumulative chip sales exceeding 300 million units by 2025, despite facing challenges from price competition and reliance on imports.