The European Parliament and the bloc’s 27 member states struck an informal agreement for the 43 billion-euro ($47 billion) Chips Act, which pools public and private funds and allows for state aid to kick-start massive investments for chipmaking facilities.
“The Chips act puts Europe in the first line of cutting-edge technologies which are essential for our green and digital transitions,” Ebba Busch, industry minister for Sweden, which holds the rotating EU presidency, said in a statement.
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