STMicro, GlobalFoundries to build French microchip plant -Le Figaro
Reuters
Published Jul 10, 2022 01:22PM ET
Updated Jul 10, 2022 01:40PM ET
PARIS (Reuters) -GlobalFoundries Inc and STMicroelectronics will announce on Monday plans to build a semiconductor factory in France for an investment of nearly 4 billion euros, as part of Europe's efforts to boost its independence in microchips, Le Figaro reported on Sunday.
This would help support a push from the European Commission to produce 20% of the world's microchips in Europe by 2030.
The investment is expected to be announced during the fifth edition of the President Emmanuel Macron's "Choose France" summit to be held on Monday in Versailles.
STMicro declined to comment.
A snapback in demand for products ranging from smartphones to cars, following a slump caused by the coronavirus pandemic, has disrupted chip supply chains especially in the car industry.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.