The European Commission said on Thursday that it has approved the German government to provide 623 million euros in aid to support the construction of two new semiconductor manufacturing plants in Germany. The aid includes two grants worth €495 million and €128 million, respectively. A larger grant will go to GlobalFoundries, a semiconductor foundry that specializes in manufacturing semiconductor devices for other companies. The second grant will go to X-FAB to support the construction of a new open foundry at its existing site in Erfurt, Germany. The European Commission said in a statement that these measures have boosted the development of economic activity in Europe, and these facilities will be pioneers. The committee also added that these measures will have a broader positive impact on the European semiconductor ecosystem.

The European Commission said on Thursday that it has approved the German government to provide 623 million euros in aid to support the construction of two new semiconductor manufacturing plants in Germany. The aid includes two grants worth €495 million and €128 million, respectively. A larger grant will go to GlobalFoundries, a semiconductor foundry that specializes in manufacturing semiconductor devices for other companies. The second grant will go to X-FAB to support the construction of a new open foundry at its existing site in Erfurt, Germany. The European Commission said in a statement that these measures have boosted the development of economic activity in Europe, and these facilities will be pioneers. The committee also added that these measures will have a broader positive impact on the European semiconductor ecosystem.