Infineon's Dresden factory financing approved by the German government, expected to start production in 2026.

Infineon announced on May 8th that the German government has given final approval for the financing of their new chip factory in Dresden. Infineon will invest 5 billion euros and create up to 1000 new jobs. In addition, Infineon is also investing in a joint venture called "European Semiconductor Manufacturing Company" in Dresden. Previously, the European Commission approved the German government's provision of 9.2 billion euros financial support to Infineon in February of this year for the construction of the Dresden factory. The factory is set to start construction in May 2023, with the main building nearing completion, and production is expected to begin in 2026, as planned.