Germany plans to invest €20 Billion in semiconductor industry
Germany plans to invest €20 billion in the semiconductor industry to address supply chain fragility and reduce dependence on South Korea and Taiwan for chips.
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Germany aims to attract global chipmakers by offering subsidies under the EU Chips Act, with Intel already planning to spend over €30 billion on chip-making plants in Magdeburg.
Taiwanese semiconductor manufacturer TSMC has also expressed interest in investing in a semiconductor production facility in Germany. The funds will be drawn from the Climate and Transformation Fund and are subject to approval from the European Commission.
In a later comment, the US semiconductor manufacturing company GlobalFoundries has criticized Berlin’s subsidies to TSMC, claiming they will distort competition.