Spain announces investment of 12.25 billion euros to develop local chip industry

Spain has approved a plan to invest 12.25 billion euros (about 87.465 billion yuan) in the semiconductor and microchip industries by 2027, Spanish Economy Minister Nadia Calvino said on Tuesday, May 25. RMB), of which 9.3 billion euros (about 66.402 billion yuan) will be used to build chip manufacturing plants.

The project investment mainly comes from the EU Epidemic Relief Fund, which is mainly used to meet the needs of the digital economy and make up for the gap caused by the shortage of chips. When Spanish Prime Minister Pedro Sanchez announced the plan last month, the initial investment was set at 11 billion euros (about 78.54 billion yuan).

"The goal is to fully develop Spain's design and production capabilities in the microelectronics and semiconductor industries, covering the entire supply chain from design to chip manufacturing," Calvino said after Spain's weekly cabinet meeting.

A surge in chip demand against the backdrop of the impact of the pandemic and global supply chain issues has led to chip shortages across the globe, forcing many manufacturers around the world to slow production last year, including assembly lines at carmakers Volkswagen and Renault in Spain. Partially discontinued.

Spain said it will invest 9.3 billion euros through the plan to fund local production of high-end chips and mid-range chips with a process technology greater than 5 nanometers .

This plan will also provide 1.1 billion euros in chip research and development subsidies, while 1.3 billion euros will be earmarked for chip design. In addition, Spain will support strategic projects developed by local companies at the European level through this program, setting up a 200 million euro chip fund to provide funds for local start-ups in the semiconductor industry to develop and expand their business.

Calvino added that the lack of support, commitment, vision or even a sequential strategy is part of the reason Spain has so far not had a chip industry.

"We want Spain to play its rightful role in this technology sector, and the EU fund presents a great opportunity for that," she said.

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