CAPTION: Peter Altmaier (CDU), Federal Minister of Economics and Energy. (picture alliance/Gregor Fischer/dpa/archive)
Germany can support the development of chips and sensors with up to 820 million euros in aid, the European Commission said Tuesday, as the country competes with the likes of China and the United States.
The Brussels-based institution approved a joint request by four EU countries to provide companies and research facilities in the microelectronics sector with a total of 1.75 billion euros in public support. This is meant to mobilize another 6 billion euros in private investments.
"Microelectronics can be found in almost all electronic devices we use every day - be it your phone, computer, washing machine or your car," EU Competition Commissioner Margrethe Vestager said. "Innovation in microelectronics can help the whole of Europe leap ahead in innovation."
German Economy Minister Peter Altmaier welcomed the Commission's announcement.
"With this decision, the semiconductor expertise in Europe and Germany will be strengthened," he said. Germany will invest around 1 billion euros in this technology. A Bosch microelectronics facility in Dresden is notably due to be developed and supported by the German government until its first commercial use.
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A single purchase
