Cyprus Mail
BusinessEuropeInternationalTech & Science

STMicro, GlobalFoundries to build French microchip plant, Le Figaro reports

chip plant france

GlobalFoundries Inc (GFS.O) 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.

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.

Follow the Cyprus Mail on Google News

Related Posts

‘Cyprus is a reliable business centre’

Tom Cleaver

Guidelines for logo size: What is the best logo size for social media and websites?

CM Guest Columnist

Verbex Group Review: 5 trading tips for first-time Forex Traders [verbexg.com]

CM Guest Columnist

Cyprus Business Now

Kyriacos Nicolaou

Tesla’s plan for affordable cars takes page from Detroit rivals

Reuters News Service

War and peace on the brink

Ioannis Tirkides