Questionmarks are being raised over Intel's planned chip factory in Germany after the country's finance minister said there is no more money available for further subsidies to help build it.a site in Magdeburg in eastern Germany to build a new European"mega-fab" to manufacture its chips. Intel had agreed with the federal government that it would receive €6.8 billion in subsidies towards the project, said to amount to about 40 percent of the total construction costs.
with Berlin, plus partners such as NXP, Bosch, and Infineon for a new factory in Saxony, if subsidies are forthcoming." revamp, as detailed by CEO Pat Gelsinger in 2021. Intel also wants to expand manufacturing capacity by adding factories in Arizona.last year, which allowed European member states to stump up subsidies for companies willing to invest in chip manufacturing on their soil.
But since that time, Intel has been hit hard by falling revenues caused by slowing sales of everything from servers to laptops, amid the economic uncertainty caused by rising energy prices which are driving inflation. The company posted a $2.