PANews 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. The project is a major beneficiary of the EU's "chip law," receiving approximately €1 billion in subsidies. Gorski stated that chip production at the Dresden plant will gradually increase based on demand, potentially adding up to €5 billion in revenue annually, but he declined to specify when it would reach full capacity. He added that the company has already invested approximately €2 billion in construction, with the remaining funds to be used in phases to add more equipment to the wafer fab.