A US chipmaker has announced plans to build a €3bn factory in west Germany in a move hailed by senior German officials as a sign that Europe can compete against powerful US green subsidies.
The factory, on the site of a decommissioned coal plant in the west German region of Saarland, will be built by the US semiconductor producer Wolfspeed and will produce silicon carbide chips for electric vehicles and industrial use.
Speaking at the site of the planned production facility, which is still subject to EU approval, German chancellor Olaf Scholz said that the move proved that companies looking to make sustainable investments should not “look any further” than Europe.
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