According to the Handelsblatt, it is no longer expected that the factory in Saarland will be built. Wolfspeed is making high losses and is struggling with difficulties in several major projects in the USA. Technical problems in the factories are also putting a strain on the group.
Germany had budgeted billions in subsidies for the project – the Americans’ withdrawal is therefore also seen as a setback for the traffic light coalition. Chancellor Olaf Scholz had previously praised the project as “the largest foreign direct investment that has ever taken place in Germany”. Nevertheless, the high state subsidies were highly controversial .