Shulou(Shulou.com)11/24 Report--

CTOnews.com, June 5 (Xinhua) France said on Monday that it will provide 2.9 billion euros (CTOnews.com Note: current about 22.098 billion yuan) of state aid to support chipmakers STMicroelectronics and GlobalFoundries to build a plant in Crolles in southeastern France, with a total investment of about 7.5 billion euros.

"this is a considerable investment," Finance Minister Bruno Lemerre (Bruno Le Maire) said at a joint news conference between the ministry and the heads of the two companies. He added that the 2.9 billion euros was part of a package of 5.5 billion euros reserved by France for investment in the microchip industry by 2030.

According to the chip bill reached by the European Union in April 2023, they will try to double their chip market share to 20% by 2030. On April 28, Italian Semiconductor and GlobalFoundries won EU approval to build a Crolles chip factory with the assistance of the French government.

The two companies announced their plans in July last year that the new plant will be located next to STM's existing plant in Crolles, with the goal of reaching full capacity by 2028, producing 620000 wafers a year for automotive, Internet of things and mobile applications.

According to reports, the new factory will create about 1000 new jobs, while France's overall goal is to create 10000 new jobs in the semiconductor industry by 2030.

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