Wolfspeed delays Germany site build to mid-2025
The slowdown in demand for EVs strikes again, with US-based SiC specialist Wolfspeed postponing – but not cancelling – the construction of its Saarland facility.
Last year, US SiC specialist Wolfspeed announced plans to build a fully automated 200mm wafer fabrication plant in Saarland, Germany – the company's first fab in Europe.
However, according to Reuters, Wolfspeed has come under pressure from shareholders to re-think its plans after a 51 percent decline in its stock over the past year. A company spokesperson told reporters that while the project is not cancelled, the North Carolina-based company will prioritise the expansion of its New York site in the short term. The Germany project is now deferred to mid-2025 at the earliest, two years behind the initial target.
The decision will be a blow to the European Union’s ongoing project to boost local chip production and reduce reliance on Asian suppliers. It will take the shine after today's good news that Wolfspeed's SiC rival onsemi has committed USD 2 billion to expand its Czech operation.
