Wolfspeed expects to receive 20% of the investment amount in subsidies, Chief Executive Gregg Lowe told German newspaper Handelsblatt.
"This is an important sign that Germany continues to be attractive even in difficult circumstances for high-tech investments," Habeck told reporters after a cabinet meeting earlier on Wednesday.Governments in Europe are jockeying for new industrial projects amid unease that subsidies on offer in the U.S. will lure planned investments away from Europe.
European Commission chief Ursula von der Leyen announced, as part of the plan, a repurposing of existing EU funds, faster approval of green projects and drives to boost skills and seal trade agreements to secure supplies of critical raw materials.to boost its market share in semiconductors to 20% by 2030 from 8%, though it still needs to be debated in the European Parliament before it can become law.
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