Germany plans billions in new subsidies for semiconductor industry

The German government is planning to invest billions in its semiconductor industry, with reports suggesting around 2 billion euros ($2.11 billion) in new subsidies. This follows a call for chip companies to apply for funding to enhance microelectronics in Germany. A spokesperson from the Economy Ministry did not confirm the 2 billion euro figure but mentioned that funding would be in the low single-digit billion range. This initiative aligns with the European Chips Act, which aims to boost local semiconductor production. The funding will support the establishment of advanced production capacities, aiming to reduce reliance on Asian suppliers for semiconductors.