Spain to spend 11 bn euros on semiconductor and microchip industry

Spain will spend 11 billion euros on a plan to boost the semiconductor and microchip industry.
Prime Minister Pedro Sanchez said on Monday that the new spending plan, mainly financed through European Union pandemic relief funds, will be approved soon.

A worldwide shortage of micro chips, due to a unexpected peak of demand following the pandemic and supply chain bottlenecks, has forced manufacturers such as car makers to slow down output.