According to the latest report, the heads of chipmakers GlobalFoundries and Applied Material, as well as automakers Ford Motor and General Motors held a closed-door summit with U.S. government officials. Discuss government plans to invest in semiconductors.
On Tuesday, the president of the United States will sign a bill that would provide $52 billion in subsidies for chip manufacturing and research. It also includes an investment tax credit for chip factories worth an estimated $24 billion.
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GlobalFondries CEO Thomas Caulfield said in a statement that the chip legislation will “accelerate domestic semiconductor manufacturing, thereby protecting the U.S. economy, supply chain and national security.”
The legislation aims to ease the ongoing chip shortage that has hit the supply of goods such as cars, washing machines, and video games. Thousands of cars and trucks remain parked in southeastern Michigan awaiting the arrival of chips as shortages continue to affect automakers.
Several companies said the summit will allow them to “discuss with government officials how these public investments can accelerate semiconductor and emerging technology manufacturing and support the electrification of vehicles with the ready-made supply of chips.”
White House National Economic Council Director Brian Deese, Undersecretary of Defense for Acquisition William LaPlante, and National Security Council official Tarun Chhabra will attend the meeting.”A reliable domestic supply of chips, including traditional semiconductors needed for the automotive and defense industries, will keep U.S. production lines running,” Ford Chief Executive Jim Farley said in a statement.
