BERLIN : German Chancellor Olaf Scholz said on Wednesday that he knew of further plans for large investments in chip production in Germany, a welcome trend as Europe looks to reduce its reliance on China when it comes to strategically important industries.'I know of other plans by German companies and man
BERLIN : German Chancellor Olaf Scholz said on Wednesday that he knew of further plans for large investments in chip production in Germany, a welcome trend as Europe looks to reduce its reliance on China when it comes to strategically important industries.
He vowed that Germany's efforts would help companies become less dependent on semiconductor supplies from other regions, days after China announced restrictions on two metals used in high-speed computer chips. Germany is among the top importers of the affected metals: gallium and germanium. It has committed, along with other European Union members, to reduce dependence on China over Beijing's more aggressive diplomacy and closer ties to Moscow.
He dismissed concerns that Germany is losing its appeal as an investment location, pointing to recent investments by major firms. Intel announced plans last month to spend more than 30 billion euros on developing two chip-making plants in the central city of Magdeburg.
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