Intel delays plan to open chip factory in Germany

Intel Corp has stepped back from its goal of opening a chip factory in Magdeburg, eastern Germany, in the first half of 2023, according to the regional newspaper Volksstimme.

The semiconductor giant has reportedly requested more public subsidies.┬áThe plant is at the center of Germany and the European Union’s plans to strengthen the continent’s resilience by producing more locally after the COVID-19 pandemic and Russia’s invasion of Ukraine.

The newspaper reported that Intel initially allocated a budget of 17 billion euros ($ 18 billion) for costs, but the prices are now close to 20 billion euros.

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