Germany to invest 2 billion Euros into microchip production

Bloomberg announced that the German government is set to invest about 2 billion Euros into semiconductor production in the country, TASS reports

The German Economy Ministry plans to funnel that money into 10-15 diversified projects, including the production of raw wafers and the assembly of microchips. The total amount of subsidies is supposed to reach a few billion Euros.

The new funds will be provided to chip companies to develop ‘modern production capacities that significantly exceed the current state of the art’, according to the ministry’s spokesperson.