BERLIN, July 14 (Reuters) – The European Commission on Tuesday approved €659 million ($751 million) in German state aid to support four first-of-a-kind semiconductor facilities in Germany, saying the projects will strengthen the EU’s position and autonomy. “Today’s approval of Germany’s support for four new projects in the semiconductor value chain shows Europe is turning […]
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EU approves €659 million in German aid for four chip plants
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BERLIN, July 14 (Reuters) – The European Commission on Tuesday approved €659 million ($751 million) in German state aid to support four first-of-a-kind semiconductor facilities in Germany, saying the projects will strengthen the EU’s position and autonomy.
“Today’s approval of Germany’s support for four new projects in the semiconductor value chain shows Europe is turning the ambitions of the EU Chips Act into action,” said Executive Vice-President Teresa Ribera.
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(Reporting by Kirsti Knolle; editing by Matthias Williams)