Intel In Talks With Germany's Bavaria For Chip Factory: Reuters

Anusuya Lahiri

Fri, Jun 18, 2021, 3:32 PM1 min read

In this article:

Germany's southern state of Bavaria discusses with Intel Corp (NASDAQ: INTC) to build a European chip factory to relieve the auto sector from production cuts due to the global semiconductor chip crisis, Reuters reports.
Intel has been seeking $9.5 billion in public subsidies to build a chip factory in Europe.
Bavaria has proposed an abandoned airbase in Penzing-Landsberg, west of Munich, as a potential location.
The semiconductor chip crisis-induced automaker production cuts threatened to de-rail Germany's economic recovery from the pandemic.
The E.U. is focusing on a semiconductor alliance including STMicroelectronics NV (NYSE: STM), NXP Semiconductors NV (NASDAQ: NXPI), Infineon Technologies AG (OTC: IFNNY), and ASML Holding NV (NASDAQ: ASML) to cut dependence on foreign chipmakers.
Price action: INTC shares traded lower by 3.01% at $55.45 on the last check Friday.

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Intel In Talks With Germany's Bavaria For Chip Factory: Reuters

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