STMicroelectronics plans to build semiconductor fab in France

According to the latest report, sources revealed that Global Foundries and STMicroelectronics (STM) are considering cooperating with the French government to build a semiconductor fab to help reach the EU Executive Commission (EC) Chip production in the region by 2030.

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In February of this year, the European Union announced the much-watched “Chip Act”, which plans to invest 43 billion euros (about 49 billion U.S. dollars) in a new generation of chip factories to increase the EU’s share of global chip production. It is a multi-year, large-scale investment plan aimed at making Europe a global leader in chip manufacturing.

Ursula Von Der Leyen, President of the European Commission, said that the EU is currently too dependent on overseas suppliers and has not yet made the most advanced chips. And chips are at the heart of the global technology race, and certainly the cornerstone of our modern economy.

The goal of the EU’s “Chip Act” is to increase the EU’s chip production capacity from the current 10% of the world’s total to 20% by 2030. Von der Leyen also said: “The epidemic has also exposed the fragility of the European supply chain.” The production of automobiles and other goods has been hit by chip shortages.

In addition, the EU is also tweaking state aid regulations to allow huge subsidies for cutting-edge factories. It is reported that the European Commission also recommended that its member states set up a “toolbox” to ensure the supply of chips in an emergency. These include using Europe’s market forces to organize joint purchases and forcing industry players to provide the EU with information such as stocks.

(via)