Nov 6 (Reuters) - Wolfspeed ( WOLF ) forecast quarterly

revenue below estimates on Wednesday and said it would book $174

million in restructuring charges for the planned closure of a

facility, as the chipmaker deals with sluggish demand from

automotive customers.

Shares of the company, which counts General Motors ( GM )

and Mercedes-Benz among its customers, fell 15% in

extended trading.

Slowing sales of electric vehicles have affected demand for

the chips Wolfspeed ( WOLF ) makes using silicon carbide, a more

energy-efficient material than standard silicon.

The company dropped plans last month to build a factory in

Ensdorf, Germany, citing the slower adoption of EVs in Europe.

In October, rival ON Semiconductor also forecast

fourth-quarter revenue and profit below market estimates.

Wolfspeed ( WOLF ) expects second-quarter revenue from continuing

operations to be between $160 million and $200 million, which is

below analysts' estimates of $214.6 million, according to

LSEG-compiled data.

It expects a quarterly adjusted loss per share of 89 cents

to $1.14, compared with estimates of a 90 cent loss.

Wolfspeed ( WOLF ) has seen a rise in costs, as it shuts down its

150mm chip fabrication plant based in Durham to focus on the

more efficient 200mm chip plant located in Mohawk Valley.

The company expects to book $174 million in

restructuring-related costs in the current quarter, after

recording $87.1 million in such costs during its fiscal first

quarter, which ended on Sept. 29, including for severance.

Its first-quarter revenue was also below expectations. The

company said its Mohawk Valley facility in New York, which has

yet to hit full utilization, contributed about $49 million in

revenue, the same as the previous quarter.

The company said last month it would receive up to $750

million in funding under the CHIPS and Science Act to support

the expansion of its North Carolina-based chip factory and the

Mohawk Valley plant.