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Intel invests in microchips in Germany, good news for Europe

After tough negotiations, the American company decided to invest 17 billion euros to produce semiconductors in Magdeburg, in northeastern Germany. The initiative, dubbed Silicon Junction, is part of a larger European project that could benefit the entire European Union.

Intel invests in microchips in Germany, good news for Europe

After Tesla and its Gigafactory project in Brandenburg, it is the turn of the American company Intel to invest in Germany. On Tuesday, March 15, it unveiled a large investment plan in Europe, including the creation of two "mega-factories" of electronic chips in Magdeburg, the capital of Saxony-Anhalt, reports the Tagesschau.

With a dedicated amount of 17 billion euros – “more than the annual budget of the Land of eastern Germany” – the semiconductor giant hopes to launch production as early as 2027. Around 13,000 jobs should then be created in the region.

For the  Frankfurter Allgemeine Zeitung, the initiative is a sign of “a paradigm shift” , and “not only in German economic policy” . According to the right-wing newspaper, “unlimited optimization of production costs is now a thing of the past”. Due to global geopolitical tensions, the major Western groups now favor security of supply, which favors Germany.

“First Chips Act Success”

But according to the press across the Rhine, the country is not the only one affected by this new economic strategy. Europe as a whole should benefit. "For the European Union, this implies greater security of supply of precious semiconductors, and more autonomy in the event of a global crisis" , explains the Tagesschau  chain  . From household robots to electric cars, including weapons of war and laptop computers, electronic chips have indeed become an important issue for the sovereignty of the Old Continent.