Wolfspeed delays German semiconductor plant to mid-2025 due to weak EV markets; focuses on New York production.

Wolfspeed delays $3bn German semiconductor plant due to weak European and US electric vehicle markets, shifting focus to New York production. The EU's Chips Act, aiming to boost €43bn ($47bn) for semiconductor industry, has faced limited progress in approved projects. Wolfspeed's German plant, initially planned for 2023, is now expected to commence mid-2025. The EU grapples with reducing its reliance on Asian chips and increasing homegrown production.

June 20, 2024
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