Intel In Talks With Germany's Bavaria For Chip Factory: Reuters

Germany's southern state of Bavaria discusses with Intel Corp INTC to build a European chip factory to relieve the auto sector from production cuts due to the global semiconductor chip crisis, Reuters reports.
Intel has been seeking $9.5 billion in public subsidies to build a chip factory in Europe.
Bavaria has proposed an abandoned airbase in Penzing-Landsberg, west of Munich, as a potential location.
The semiconductor chip crisis-induced automaker production cuts threatened to de-rail Germany's economic recovery from the pandemic.
The E.U. is focusing on a semiconductor alliance including STMicroelectronics NV STM, NXP Semiconductors NV NXPI, Infineon Technologies AG IFNNY, and ASML Holding NV ASML to cut dependence on foreign chipmakers.
Price action: INTC shares traded lower by 3.01% at $55.45 on the last check Friday.