Intel Corp has postponed the launch of a chip facility in the eastern German city of Magdeburg in the first half of 2023. The industry leader in semiconductors desired additional government aid. The facility is essential to German and EU goals to increase domestic production and increase the resilience of the continent.
However, the publication claimed that the U.S. company’s initial predictions had been incorrect due to rising energy and raw material prices. Intel had initially anticipated costs of 17 billion euros ($18 billion), but the article reported that prices were now closer to 20 billion euros.
Intel has also stated that it won’t be able to provide a firm timetable for the start of construction on its new chip production facility in Taiwan until next year. The business also stated it was talking with the government about how to close a financial “gap.”
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