Spain wants to become a major microchip manufacturer
The Spanish government has announced a €12.3 billion investment plan to turn the country into a major microchip producer and help reduce Spain and the European Union's dependence on other suppliers.
Speaking in Madrid, Deputy Prime Minister and Economy Minister Nadia Calvino said the five-year plan aims to enable Spain to cover all areas of microchip development and production, which are now considered key to all areas of modern industry.
The global shortage of computer chips has made it harder for consumers to purchase cars, computers, and other essentials. The European Union has announced a $48 billion plan to become a major semiconductor manufacturer, reflecting US President Joe Biden's push to invest $52 billion in the nation's chip manufacturing sector to boost domestic production.