The Element company has postponed its Kubik project for power semiconductor production from late 2026 to 2029. This decision followed an audit by Sberbank, which mandated a complete review of the project's strategy and timeline.
Production will now be split between two locations. Silicon transistors are slated for manufacturing in Novosibirsk, while silicon carbide components will be produced in Alabushevo. The project initially aimed to capture 60% of the domestic market by 2030.
The project has faced significant challenges, including a lack of funding, missing product designs, and the absence of a reliable technology supplier. Over the past two and a half years, the project has seen multiple management changes and held negotiations with Chinese partners.
Financial reports regarding the project remain conflicted. Sources report that 26.5 ₽ billion in private funds and 17 ₽ billion in state funding have been invested, with some reports suggesting the government is demanding a refund. Element denies receiving the state funds.
