Germany to invest €20bn in its semiconductor industry to attract global chipmakers, including Intel and Taiwan-based giant, TSMC
Germany has announced plans to invest up to €20bn (US$22bn) in its semiconductor industry in the run-up to 2030.
Germany is seeking to attract global chipmakers to set up factories in the country, and plans to invest around €20bn (US$22bn) in the semiconductor industry over the coming years, the country’s economy ministry told Reuters this week.
Germany’s chips move has been made possible by the European Union (EU) European Chips Act, which seeks to double the EU’s supply chain market share in semiconductor development, manufacture and materials by the end of the decade, from 10 to 20%.
The Act will pool resources from member states and third-party countries associated with the existing EU programmes, providing a total of €11bn for chips research, development and innovation.
Source : Supply Chain