Wolfspeed shelves plans to build chip factory in Germany, FT reports
Oct 23 (Reuters) -Wolfspeed WOLF.N shelved plans to build a semiconductor factory in Germany, the Financial Times reported on Wednesday, citing a statement from the U.S. chipmaker.
The chipmaker said in June it had delayed plans to build the $3 billion plant, which would make, in Germany, computer chips used in electric cars, highlighting the European Union's struggle to increase semiconductor production and reduce its reliance on Asian chips.
Wolfspeed did not immediately respond to a Reuters request for comment.
Wolfspeed announced its plans for the plant and a research and development center in Germany in February 2023.
An industry source told Reuters on Tuesday that the German automotive supplier ZF [RIC:RIC:ZFF.UL] had intentions to withdraw from the planned $3 billion microchip manufacturing project with Wolfspeed in western Germany.
($1 = 0.9283 euros)
Reporting by Priyanka.G in Bengaluru; Editing by Alan Barona
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