STMicroelectronics and GlobalFoundries are teaming up to build a semiconductor manufacturing factory in France, a multibillion-euro project that will receive significant government support as part of Europe’s effort to boost its independence in critical technologies.
The Élysée Palace said the joint investment from the Switzerland and US-based companies would be worth €5.7bn, but declined to specify how much public money would be allocated since details were still being finalised.
President Emmanuel Macron will visit the STMicroelectronics site where the factory will be built in south-eastern France near Grenoble on Tuesday.
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