WOLF - What's Going On With Wolfspeed Stock Thursday? | Benzinga
Wolfspeed Inc (NYSE:WOLF) has reportedly postponed plans to build a $3 billion plant in Germany, underlining the European Union’s ongoing challenges to boost semiconductor production and lessen dependency on Asian chips.
The proposed facility in Saarland, intended to manufacture chips for electric vehicles, is still in the planning stages and seeking funding, Reuters reported, citing a company spokesperson.
Wolfspeed has reduced capital spending due to weak EV markets in Europe and the U.S. and is now concentrating on ramping up production in New York.
Construction in Germany is delayed until mid-2025, two years later than planned.
The company faces pressure ...