Home News The German government wants to attract 14 billion euros in state aid...

The German government wants to attract 14 billion euros in state aid to chip makers

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Lack of chips worldwide and supply chain blockages have wreaked havoc on carmakers, healthcare providers, telecom operators and others.

“It’s a lot of money,” Habeck said at a family business meeting in Hanover.

In February, the European Commission set out plans to encourage semiconductor production in the European Union amid strong demand growth with new legislation proposed to relax state aid rules for chip factories.

In March, the American chip maker Intel announced that it had chosen the German city of Magdeburg as the location for a new huge chip production complex, worth 17 billion euros.

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Government sources said at the time that the state was promoting the billion-euro project.

Habeck said there would be other examples such as Magdeburg, although German companies would remain dependent on manufacturers in other regions for components such as batteries.

“We need to develop our own strategy to secure the raw materials,” he said.

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