order_bg

News

Germany plans to lure chip makers with €14bn in state aid

The German government hopes to use 14 billion euros ($14.71 billion) to attract more chipmakers to invest in local chip manufacturing, economy minister RobertHabeck said Thursday.  

Global chip shortages and supply chain problems are wreaking havoc on automakers, healthcare providers, telecom carriers and more.  Mr Harbeck adds that the lack of chips in everything from smartphones to cars today is a big problem.  

Harbeck added of the investment, “It’s a lot of money.  

The surge in demand prompted the European Commission in February to set out plans to encourage chip manufacturing projects in the EU and propose new legislation to relax state aid rules for chip factories.  

In March, Intel, the US chipmaker, announced it had chosen to build a 17 billion euro chip manufacturing facility in the German town of Magdeburg.  The German government spent billions of euros to get the project off the ground, sources said.  

Mr Harbeck said that while German companies would still rely on companies elsewhere to produce components such as batteries, there would be more examples like Intel’s investment in the town of Magdeburg.  

Comments: the new German government is planned to introduce more chip manufacturers by the end of 2021, Germany in December last year the ministry of economic affairs has selected 32 projects related to microelectronics, from material, chip design, wafer production to system integration, and on this basis, the common interests of European plan, for the eu also eager to Europe to promote domestic production and self-sufficiency.


Post time: Jun-20-2022