Intel Corporation. will postpone the planned construction of its chip factory in Germany and will seek more government subsidies, according to Bloomberg, citing the Volksstimme.

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The American chipmaker announced plans to build a €17bn mega facility in Magdeburg earlier this year.. Construction was supposed to start by mid-2023, and the government planned to allocate 6.8 billion. euro as state aid.

Now the cost has increased to 20 billion euros. Therefore, Intel is no longer planning an exact date for the start of construction and wants the German government to increase subsidies..

While Intel hasn't made any official announcement about the delay, Saturday's release said " "

It is also said that while “the company is monitoring the situation and will commensurate investments with the market”. "

The European Union sets itself an ambitious goal of producing 20% \u200b\u200bof the world's chips by 2030. The Chip Act is still going through the legislative process, but has already prompted a number of companies to make investments, of which Intel was the largest.. High energy prices, a market downturn, and even subsidies under the U.S. Inflation Reduction Act could jeopardize these plans..

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Recall that on December 7, President Biden announced the return of semiconductor production to the United States.. he made such a statement in connection with the start of construction of a gigantic semiconductor plant in Arizona. The plant is being built according to the project of the Taiwanese company TSMC, the world's largest manufacturer of advanced microchips..