EU Struggles with Chipmaking Plans as Wolfspeed Delays Plant

Reported about 1 year ago

Wolfspeed has postponed plans to construct a $3 billion plant in Germany, showcasing the EU's challenges in boosting semiconductor production and reducing dependence on Asian chips. Following a decline in the European and U.S. EV markets, the North Carolina-based company is now concentrating on expanding production in New York. Despite initial enthusiasm for the EU Chips Act launched in 2022 to bolster the semiconductor industry with a €43 billion investment, few projects have materialized, hindering the region's goal of achieving self-sufficiency by 2030 according to experts.

Source: YAHOO

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