EU approves over $750M in German aid for 4 chip plants

Kamil Mahmudov
Author

The European Commission ​on Tuesday approved €659 ‌million ($751 million) in German state aid ​to support ​four first-of-a-kind semiconductor facilities ⁠in Germany, ​saying the projects ​will strengthen the EU's position and autonomy, Report informs via Reuters.

"Today's ​approval of ​Germany's support for four new ‌projects ⁠in the semiconductor value chain shows Europe ​is ​turning ⁠the ambitions of the EU ​Chips Act ​into ⁠action," said Executive Vice-President Teresa ⁠Ribera.

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