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Wolfspeed to build $2.17 billion chip factory in Germany

Wolfspeed's semiconductor facility

US power chip maker Wolfspeed Inc is planning to build a factory in the small southwest German state of Saarland, that costs more than $2.17 billion.

The factory would make chips for electric vehicles and other applications.

The German auto supplier ZF Friedrichshafen AG will hold a minority stake.

The factory, which would create hundreds of jobs in Saarland state, should start production in four years.

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