Germany to allocate EUR 20bn to semiconductor industry
Germany has joined the clamour to re-gain some control of its chip industry. Its economy ministry has said it will invest EUR 20 billion to boost its domestic market.
The country's economy ministry revealed that the EUR 20 billion fighting fund will come from the Climate and Transformation Fund, and will start in 2024 (subject to approval by the European Commission).
It's just the latest of many similar strategies by sovereign states to wrest back some control of their semiconductor supply chain. In the case of Germany, the plan seems to involve continuing to work with existing overseas firms but on a more favourable basis.
As such, the ministry revealed it has been talking to TSMC about its plans for a fab in Dresden. It also reminded observers of its recent agreement Intel to establish two advanced semiconductor facilities in Magdeburg.