German semiconductor company Infineon is preparing to open its €5 billion semiconductor factory, which will officially begin production on July 2.

CoinFeed reported on June 12th, citing Bloomberg, that German semiconductor company Infineon Technologies announced it is preparing to launch its largest single investment to date – a €5 billion (approximately RMB 39.2 billion) semiconductor factory. The factory's construction received approximately €1 billion in subsidies related to the EU's "chip law," aimed at increasing chip production. Infineon's Chief Operating Officer, Alexander Gorski, stated at the factory site this week that the power chip manufacturing plant, an expansion of the company's Dresden campus, will officially begin production on July 2nd. This project is a major beneficiary of the EU's "chip law," receiving approximately €1 billion in subsidies.