Wolfspeed plans multi-billion greenback chip manufacturing unit in Germany

© Stocksak. FILE PHOTO: U.S. energy chip maker Wolfspeed’s silicon carbide 200mm wafer is seen on show at Wolfspeed’s Mohawk Valley Fab in Marcy, New York, U.S., April 2022. Courtesy of Wolfspeed/Handout by way of REUTERS

FRANKFURT (Stocksak) – U.S. energy chip maker Wolfspeed Inc is planning to construct a manufacturing unit in Germany for greater than 2 billion euros ($2.17 billion), Handelsblatt reported on Saturday.

The German auto provider ZF will maintain a minority stake, the enterprise newspaper mentioned, citing unidentified sources aware of the undertaking.

Manufacturing ought to start in 4 years on the website within the small southwest German state of Saarland, the report added.

A spokesperson for the economics ministry of Saarland declined to remark.

Wolfspeed did not instantly reply to requests for remark outdoors of regular enterprise hours. ZF declined to remark.

Intel (NASDAQ:) final 12 months named Magdeburg, Germany, as the positioning for its new mega chip manufacturing advanced, a key a part of its $88 billion funding drive throughout Europe.

($1 = 0.9212 euros)

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