I think that they are, in fact, intending to open new fabs in both Japan and Europe. Given the presence of GlobalFoundries and others in Germany, that would make sense for a European base.
This doesn't mean that it's not _also_ intended to help with negotiations, of course. It can be both true, and stated out loud for the purpose of seeing what other offers come up.
I wonder if this media noise is more to do with negotiation tactics than with real intentions.