Why Europe is hungry for chips
The United States and China are embroiled in a fierce rivalry to dominate the chip industry, and Europe is investing billions to keep up.
The United States and China are embroiled in a fierce rivalry to dominate the chip industry, and Europe is investing billions to keep up.
GlobalFoundries was earlier in talks with a few companies from the country. Those plans, however, did not materialize owing to the latter’s lack of credible expertise and experience in manufacturing electronics products, a source said.
"The necessary policy framework is already in place to create a vibrant component ecosystem. And if there is any need for the government to intervene and create more PLI type of schemes, we will do so," he said while addressing the media ahead of the 'Semicon India 2023' event in Gandhinagar.
STM said it expects third-quarter net revenues of $4.38 billion, a touch above the $4.32 billion it posted in the third quarter last year.
The event will offer deep insight into cutting-edge technologies and innovations in chip-making and will bring together the biggest names in the semiconductor and technology industry.
After Foxconn pulled out, Vedanta said it had lined up partners for the venture, without giving details.
In a statement, Foxconn, the world's largest contract electronics maker, said it has determined it will not move forward on the joint venture with Vedanta.
The EU executive said on Thursday that 14 member countries could provide the aid to 68 projects involving companies including Airbus, ASML and Ericsson .
The companies said the cost of the venture was expected to be about $3.2 billion, including capital expenditure of about $2.4 billion over the next five years.
The funding would go towards a 7.5-billion-euro project announced last year to be run by European multinational STMicroelectronics and US company GlobalFoundries.
The challenges faced by the companies deal a major setback to Prime Minister Narendra Modi, who has made chipmaking a top priority as he wants to "usher in a new era in electronics manufacturing" by luring global companies.