Politics and Government Politics and Government
Fri, November 29, 2024
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German Government Plans Billions of Euros in New Chip Subsidies, Bloomberg News Reports

German Government Plans Billions of Euros in New Chip Subsidies, Bloomberg News Reports


Published on 2024-11-29 10:31:22 - Brian Stokes, N@N
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  • (Reuters) - The German government is preparing billions of euros of new investments into the country's semiconductor industry, Bloomberg News reported on Thursday. The subsidies are expected to be about 2 billion euros ($2.11 billion), Bloomberg reported, citing two people who attended an event about the funding plans.

The German government is reportedly planning to allocate billions of euros in new subsidies to bolster its semiconductor industry, according to Bloomberg News. This initiative aims to enhance Germany's competitiveness in the global chip market, reduce reliance on foreign semiconductor supplies, and support the growth of domestic chip manufacturing. The subsidies are part of a broader strategy to attract more investment in chip production facilities, foster innovation, and secure supply chains amidst increasing geopolitical tensions and the critical role semiconductors play in various industries, including automotive, electronics, and defense.

Read the Full U.S. News & World Report Article at [ https://www.usnews.com/news/technology/articles/2024-11-28/german-government-plans-billions-of-euros-in-new-chip-subsidies-bloomberg-news-reports ]
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