Intel wants another €5BN in subsidies to build chip plant in Germany

Under the Chips Act, the EU is seeking to end its dependence on China and produce 20% of the world’s semiconductors by 2030. Amidst the political push, attracting global giants to invest in the union’s domestic production has been a key strategy — with Intel’s plan to construct a massive chip plant in Magdeburg, Germany, considered a big boost for the bloc. But now, Intel is asking the German government for an additional €4 billion to 5 billion in subsidies to move forward with the project, Bloomberg reports, citing people familiar with the matter. In March 2022, Intel announced an initial…

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