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Intel promises to build chip plants in Germany, is discussing subsidies

According to reports, Intel re-emphasized that it will build a chip factory in Germany Magdeburg (Magdeburg), Intel is currently discussing funding matters with the German government.

Keyvan Esfar, Intel’s global chief operating officer, said at the meeting: “We are committed to working hard to make the Magdeburg project a success. In the current environment, while we have had to adjust our pace, we will remain focused on the progress of the project.”

Last month German newspaper Volksstimme reported that the Intel plant was originally scheduled to open in the first half of 2023, but now Intel appears to be backing off a bit because it wants more public subsidies from Germany.

A spokesman for the German economy ministry said the government will continue to communicate with Intel and the European Commission. What exactly is the type of funding? What is the amount of the subsidy? Germany needs to get permission from the EU, and because of that, Germany needs clearer data and information.

Keyvan Esfar declined to comment on the issue, saying only that geopolitical challenges have increased since the project was announced, demand for semiconductors has fallen, and inflation and recession have hurt the global economy. Keyvan Esfar also said Intel has bought the land for the plant.

Intel plans to spend $88 billion (currently about RMB 592.24 billion ) to build factories in Europe, and in March 2022 it announced it would build a new plant in Magdeburg, which is part of a master plan for European investment.

Several European countries have already offered Intel an olive branch, and last month the Italian government reiterated its intention to secure Intel’s investment.

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Threza Gabriel
Threza Gabrielhttps://www.techgoing.com
TechGoing is a global tech media to brings you the latest technology stories, including smartphones, electric vehicles, smart home devices, gaming, wearable gadgets, and all tech trending.
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