with the push from the EU and Germany to be non reliant on external sources of materials and the EU green fund and the like it is working in favour of ATC replicating the plan for Johor in Germany. The EU has created a proactive environment with the mechanisms in place to assist many industries to relocate/expand/start based in the EU.
If we assume all product made in an EU based plant is sold into EU markets then that still leaves the Johor plant to feed into the Asian markets.
I can see a potential for ATC to ask KfW if they would either offer a second funding deal for German based plant or have Johor funding commitment altered, no longer export funding based, to cover a German plant. KfW plus EU green fund would be a great match. Get German plant up and producing and then having a second crack at funding for Johor plan.
All wild speculation on my part but as long as funding for first plant is not forthcoming an EU plant gets more attractive to the point the first plant becomes the second plant. Best case scenario would be for funding for Johor plant drops and construction begins while continuing to progress German plant in parallel, that may even get the SP in the green haha.
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