Intel delaying German factory start, wants more subsidies, Volksstimme reports

FILE PHOTO: The Intel Corporation logo is seen at a temporary office during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. REUTERS/Arnd Wiegmann

BERLIN (Reuters) - Intel Corp has backed away from its original target of opening a chip factory in the eastern German city of Magdeburg in the first half of 2023, regional newspaper Volksstimme reported, saying the semiconductor giant wanted more public subsidies.

The plant is central to German and European Union plans to strengthen the continent's resilience by doing more manufacturing locally after the COVID-19 pandemic and Russia's invasion of Ukraine highlighted the risks of long, globe-spanning supply chains.