With eye on auto industry, Wolfspeed to open chip factory in Germany

FRANKFURT, Germany: German media has reported that American power chipmaker Wolfspeed Inc is planning to build a factory in Germany, at a cost of $2.17 billion.

The German auto supplier ZF will hold a minority stake in the factory, and production should begin in four years at the site in the small southwest German state of Saarland, the report added.

In 2022, Intel announced that Magdeburg, Germany, would be the site of its new mega chip manufacturing complex, part of its $88 billion investment in Europe.