Intel will not only receive additional subsidies for the construction of the chip factory in Magdeburg, Germany, but will also have to invest more itself.

The construction of the Magdeburg factory, the first Intel factory on European soil, is estimated to cost at least 20 billion US dollars. A hefty sum that Intel is not willing to pay out of its own pocket. The chip giant has already received 6.8 billion euros in grants to finance the work, but Intel wants more money. In order to exert a little pressure, she postpones construction until Germany can raise the required money.

But the federal government will not simply let itself have its say. According to the Financial Times, there would be some willingness to provide additional subsidies if Intel also increases its savings. Intel pledged to invest $29 billion in manufacturing facilities in Europe by 2022; In addition to the plant in Germany, there are plans to expand significantly in Ireland.

In any case, the arrival of Ireland is of great economic importance for Europe. By 2030, the European Union wants 20 percent of global chip production to take place on its own territory. This should make the European technology sector more independent.

In addition to Intel, TSMC is also said to be looking for a location in Germany. Just like Intel, the Taiwanese company is still going around with the collection box before it wants to start construction work.