SK Group pledges $22b for US chip, battery manufacturing
South Korean conglomerate SK Group signaled this week it will splurge $22 billion on semiconductor manufacturing, green energy, and bioscience research in the US.will be directed toward semiconductor manufacturing in the form of research and development and the creation of an advanced packaging facility. Meanwhile, $5 billion will be directed toward electric vehicle charging systems, hydrogen production, and battery tech.
The news comes as the US Senate nears a vote on the CHIPS Act which would designate more than $52 billion to accelerate domestic semiconductor manufacturing efforts. The necessary legislation to unlock the super-subsidies, which chipmakers say they need to build fabs on US soil, has been stuck in grid-lock for months as the House of Reps and Senate have gone back and forth on the contents of the bill.
Intel, which has moved ahead with a massive foundry expansion in Arizona and Ohio, and its fellow wafer bakers haveon Congress to get its act together and pass the bill so that they can get their hands on the dosh. The x86 giant is thus not the only chipmaker looking to cash in on the CHIPS Act. Last week, Samsung lodged an 11th hour proposal to
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