German firms to receive 4 bln euros through EU microelectronics push (updated)

Elmos Semiconductor SE

08/06/2023 15:37

(Adds details on EU funds, Handelsblatt report on Nexperia)
       BERLIN, June 8 (Reuters) - Over 30 microelectronics
projects in Germany will receive about 4 billion euros ($4.29
billion) in funding after the European Commission approved a
support scheme for such technologies, the German Economy
Ministry said on Thursday. 
    "The 31 microelectronics projects from 11 federal states
strengthen Germany as a microelectronics location across the
board and are an important industrial policy milestone," said
Economy Minister Robert Habeck. 
    The money comes from a total of 8.1 billion euros ($8.7
billion) in state aid approved by the European Union's
executive, part of the bloc's drive to be at the cutting edge of
technological innovation.
        A document provided by the German economy ministry
showed Infineon  IFXGn.DE , Elmos Semiconductor  ELGG.DE  and
Robert Bosch  ROBG.UL  among the companies to receive funds.
  
        Not on the list was Nexperia, a chip manufacturer whose
production is based largely in Hamburg and is headquartered in
the Netherlands, but which is Chinese-owned.
  
        The company was removed from the list following a
decision involving Habeck, who had concerns about the company's
Chinese connection, the Handelsblatt business daily reported on
Thursday, citing government sources.
  
        The economy ministry did not immediately respond to an
emailed request for comment on the report.
  
        
  
($1 = 0.9316 euros)

 (Reporting by Miranda Murray
Writing by Rachel More
Editing by Madeline Chambers)
 ((Miranda.Murray@thomsonreuters.com;))