Shulou(Shulou.com)11/24 Report--

Beijing time on January 18 morning news, it is reported that Intel once again stressed that it will build a chip factory in Magdeburg, Germany, Intel is currently discussing funding matters with the German government.

"We are committed to making the Magdeburg project a success," Keyvan Esfar, Intel's global chief operating officer, said at the meeting. "in the current environment, although we have to adjust the pace, we will still focus on the progress of the project."

Last month the German newspaper Volksstimme reported that Intel had planned to start building its factory in the first half of 2023, but now Intel seems to be holding back because it wants more public subsidies from Germany.

A spokesman for the German Ministry of Economic Affairs said the government would continue to communicate with Intel and the European Commission. What exactly is the type of funds? How much is the subsidy? Germany needs EU permission, which is why it needs clearer data and information.

As inflation soars, so do the costs of factories. Keyvan Esfar declined to comment on the issue, saying only that geopolitical challenges have increased since the project was announced, falling demand for semiconductors, inflation and recession have hurt the global economy. Keyvan Esfar also said Intel had bought the land to build the factory.

Intel plans to invest $88 billion (currently about 592.24 billion yuan) to build a plant in Europe, and in March 2022 it announced that it would build a new plant in Magdeburg as part of the European investment master plan.

Several European countries have offered an olive branch to Intel, and the Italian government reiterated last month that it would fight for Intel's investment.

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