Wolfspeed plans multi-billion dollar chip factory in Germany

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Wolfspeed plans multi-billion dollar chip factory in Germany - Handelsblatt

Published Jan 21, 2023 07:12AM ET Updated Jan 21, 2023 07:40AM ET

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Wolfspeed plans multi-billion dollar chip factory in Germany - Handelsblatt

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

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FRANKFURT (Reuters) - U.S. power chip maker Wolfspeed Inc is planning to build a factory in Germany for more than 2 billion euros ($2.17 billion), Handelsblatt reported on Saturday.

The German auto supplier ZF will hold a minority stake, the business newspaper said, citing unidentified sources familiar with the project.

Production should begin in four years at the site in the small southwest German state of Saarland, the report added.

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

Wolfspeed didn't immediately respond to requests for comment outside of normal business hours. ZF declined to comment.

Intel (NASDAQ:INTC) last year named Magdeburg, Germany, as the site for its new mega chip manufacturing complex, a key part of its $88 billion investment drive across Europe.

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