Germany’s Finance Minister Christian Lindner refuses to meet Intel Corp’s demands for higher subsidies for its chip plant in the country, saying that there is no money in the budget, Financial Times reported on Sunday.
https://kfgo.com/2023/06/10/germany-rules-out-intels-demand-for-subsidies-for-chip-plant-ft/
The jingoism Intel used to secure extreme tax breaks for fab expansions in the US won't work on the Germans. Their politicians don't care about the Chinese boogeyman.
Intel is pathetic. If the fab ever becomes operational it will be hopelessly uncompetitive. Intel will then be back asking for more handouts and support claiming that many Germans depend on it for jobs.
@ugc+1n4Anlxb . TSMC is a respectable Taiwanese company and NOT a Chinese labor camp.
Germans would rather slave away in a chinese labor camp (tsmc) than go anywhere near Intel. But they do have a point that Intel ifs is doomed.
There is huge waste and inefficiency when Intel builds factories. I have spoken to many contractors who did work knowing that it would need to be ripped out to allow another contractor in to do their work. Intel became a laughing stock because of it. Cut out the inefficient practices and make it work. The Germans won't stand for anything less.
Too disingenuous and incompetent to fix anything so have to resort to unpalatable acts
Gritting for tax breaks is loathsome, why not fix the strategy and execution instead?
apparently the german government is smarter than ohio, oregon, arizona and us federal governments. no reason to dump more taxpayer money into a sinking ship.
Probably because the subsidies will be awarded to TSMC.
https://www.reuters.com/technology/tsmc-feeling-good-about-possible-germany-plant-talks-subsidies-2023-06-06/