[ZF And Wolfspeed Chip Project May Fall Through, Germany's Industrial Recovery Suffers Another Blow] According To People Familiar With The Matter, German Auto Parts Supplier ZF Intends To Withdraw From The $3 Billion German Chip Manufacturing Project In Cooperation With US Chipmaker Wolfspeed. Prior To This, Wolfspeed Decided To Suspend The Project Due To Weaker-than-expected Demand For Semiconductors And Doubted Whether It Was Worthwhile To Enter The European Market. ZF Originally Planned To Invest $185 Million In A Stake In The Saar Plant, Which Mainly Produces Electric Vehicle Chips. Wolfspeed Announced Plans To Build A Factory And R&D Center In Germany In February 2023. If These Plans Are Shelved, It Will Mean That Germany's Ambition To Revitalize Its Industry Will Be Frustrated Again. (Bloomberg)

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