The logo of electronics and semiconductor manufacturer STMIcroelectronics is seen outside a company building in Montrouge, near Paris July 12, 2022. — Reuters picCATANIA, Italy May 31 — The European Commission today approved Italian state aid for chipmaker STMicroelectronics to build a €5 billion plant in Catania, Sicily, to make specialist microchips that boost energy efficiency in electric cars.
The aid approved by the EU executive will be a direct grant of about €2 billion to support STMicro’s production of chips made from silicon carbide, which is more energy-efficient than standard silicon.
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