France in €6bn boost for semiconductors

France in €6bn boost for semiconductors

Business news |
By Nick Flaherty

The French government has announced a plan for technology development to 2030. The plan has 10 objectives to boost the tech industry, and is reported to include €6bn for the semiconductor industry.  

The plan lists ten objectives, from France 2030 aims to boost semiconductor production, smart farming, electric vehicles and €1bn to develop small, innovative nuclear reactors with better waste management to becoming the leader in green hydrogen produced using power from renewable sources.

The plan aims to produce the first low-carbon aircraft, although the US and UK have been demonstrating electric aircraft, for as well as nearly 2 million electric and hybrid vehicles. This will boost production for car makers Stellantis (the former Peugeot/Citroen business) and Renault, as well as battery making partners ACC and Verkor planning plants in France.

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The plan also aims for France to take full part in the ‘new space adventure’, which will benefit Airbus and ArianeSpace, and invest in the field of the seabed and €2bn for smart farming.

Reports from the launch event, ahead of the French presidential election, suggest €6bn to double the production of semiconductors in France and €8bn for clean energy. However there are questions over the financing of the plan, which cites the existing plans for €30bn for green projects €34bn for competitiveness and €36bn for cohesion as the sources of the targets announced today.

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