German Government Plans About €2 Billion in New Chip Subsidies
- Part of a push to build chip supply resilience in Europe
- Intel recently delayed a €30 billion chip factory in Magdeburg
Technicians perform production control tasks in a cleanroom at a semiconductor fabrication plant in Dresden, Germany.
Photographer: Liesa Johannssen/BloombergThis article is for subscribers only.
The German government is preparing billions of euros of new investments into the nation’s semiconductor industry, two months after Intel Corp. shelved plans to build a €30 billion ($32 billion) chip factory in Magdeburg.
The new funds will be provided to chip companies to develop “modern production capacities that significantly exceed the current state of the art,” Annika Einhorn, a spokesperson from the German economic ministry, said in a statement on Thursday.