Germany’s Chancellor Scholz kicks off construction of Infineon semiconductor factory in Dresden to support green energy revolution

Infineon, a leading semiconductor manufacturer, has announced plans to build a new semiconductor factory in Dresden, Germany, with the support of the European Union’s (EU) “European Chip Act” initiative. The new factory will produce chips for electric vehicles, wind turbines, solar panels, and other renewable energy technologies. The German Chancellor, Olaf Scholz, has described semiconductors as the “oil of the 21st century” and stated that the new factory will secure jobs, prosperity, and the future of Germany and Europe. The construction of the factory is set to begin in autumn 2023, with production starting in autumn 2026. The EU has mobilized €43bn in public and private investments through the European Chip Act to bring semiconductor production to Europe.