STMicro and GlobalFoundries to Build Microchip Factory in France

It is reported on July 10th, GlobalFoundries and STMicroelectronics will announce plans on Monday to build a semiconductor factory in France, investing nearly 4 billion euros, as part of Europe’s efforts to increase independence in the microchip sector.

 This will help support the European Commission’s push to produce 20% of the world’s microchips by 2030. The investment is expected to be announced on Monday during the fifth “Choose France” summit in Versailles.

 The rebound in demand for products ranging from smartphones to cars, following a heavy reversal in the economy caused by the CCP’s COVID-19, has disrupted the chip supply chain, especially in the car industry.

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