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German chip dreams are again shelved by Americans. Wolfspeed postpones 3 billion euros factory construction plan.
①Following intel's shelving of the Magdeburg wafer fab project last month, Wolfspeed also announced the suspension of its Germany project; ②In order to attract chip giants to build factories, the German government has provided considerable subsidies, but to no avail; ③Faced with criticism from political opponents, Scholz can only hope that the Taiwan Semiconductor Germany factory project can proceed smoothly.
Express News | German Econ Minister on Wolfspeed: Decision Is Bad for Saarland
The demand for electric cars is slowing down, Wolfspeed (WOLF.US) abandons its plan to build a chip factory in Germany.
Due to the slowdown in demand for electric autos, Wolfspeed (WOLF.US) has abandoned its plan to establish a semiconductor factory in Endorf, Germany.
Wolfspeed Suspends Plans to Build $3.2bn Chip Factory in Germany
Wolfspeed, Inc. Announces Date of Fiscal First Quarter Earnings Call for November 6, 2024
Wolfspeed shelved its plan to build a semiconductor factory in Germany.
According to the Financial Times of the United Kingdom on October 24th, the American semiconductor manufacturer Wolfspeed stated on Wednesday that it has shelved plans to build a semiconductor factory in Ensdorf, Germany, due to slowing sales of electric autos. The chip maker had previously announced in June that it was postponing the construction of the $3 billion factory, which was originally intended to produce computer chips for electric autos in Germany. In addition, industry insiders reported this week that the German auto supplier ZF Friedrichshafen intends to withdraw from the semiconductor project with Wolfspeed in Germany.
Express News | Wolfspeed - in Active Discussions With German Federal Govt, Govt of State of Saarland, Zf Over Impact of the Delay
Express News | Wolfspeed - Suspending Our Plans to Build Our Next Fab in Ensdorf at This Time - Statement
Express News | Wolfspeed Inc - Issued First $250 Mln Tranche of Its Additional Senior Secured Notes Due 2030
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Express News | Zf: Wolfspeed Has Responsibility for German Chip Plant Project
The acquisition of ABB and the Wolfspeed (WOLF.US) chip project may fall through, dealing another blow to the German industrial recovery.
ZF intends to withdraw from the 3 billion US dollar German chip manufacturing project in cooperation with Wolfspeed.
ZF will withdraw its $0.185 billion investment plan in Wolfspeed, a German chip factory.
According to the German Business News on October 22, German automotive supplier ZF Friedrichshafen will withdraw its plan to invest in Wolfspeed's chip factory. Wolfspeed originally planned to build a $3 billion chip factory and research center in Germany, scheduled to start production in 2027, with ZF Friedrichshafen investing $0.185 billion. Wolfspeed had previously delayed its plans to build a factory in Germany.
Express News | Facing serious losses, Wolfspeed's nearly 3 billion euros German silicon carbide wafer factory project may fall through.
ZF to Pull Out of Wolfspeed's German Chip Plant, Reports Handelsblatt
Express News | Car Parts Maker Zf Will No Longer Participate in Planned Chip Factory in German State of Saarland - Handelsblatt, Citing Govt and Industry Sources
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