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2/17, 8:19 AM (Source: TeleTrader)
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Infineon to invest €2 billion in its Malaysia plant

Infineon Technologies AG announced on Thursday its plan to invest more than €2 billion in building a new, third module at its manufacturing site in Kulim, Malaysia, which will later "generate €2 billion in additional annual revenue with products based on silicon carbide and gallium nitride."

"Innovative technologies and the use of green electrical energy are key in reducing carbon emissions. Renewable energies and electro-mobility are major drivers for a strong and sustainable rise in power semiconductor demand," the company's Chief Executive Officer (CEO) Jochen Hanebeck stated.

The announcement comes after European Commission President Ursula Von der Leyen confirmed Brussels will enable €15 billion in additional investments in semiconductors until 2030 through its European Chips Act to help address the ongoing global shortage of chips.

Baha Breaking News (BBN) / JR