US reaches preliminary deal with Bosch for $225 million in chip grants
The U.S. Commerce Department said Friday it reached a preliminary deal with German auto supplier Bosch for up to $225 million in subsidies to build silicon carbide power semiconductors in California that are key for electric vehicles.
US reaches preliminary deal with Bosch for US$225mil in chip grants
The funding is also intended to build silicon carbide power semiconductors in California, which are key for electric vehicles.
US reaches preliminary deal with Bosch for USD 225 mn in chip grants
The department is tapping the USD 52.7 billion fund to subsidize U.S. semiconductor production and research approved in 2022. Officials have been racing to finalize terms for major loans in the weeks before President-elect Donald Trump takes office.
Bosch signs agreement for up to $225 million in CHIPS Act funding
CHIPS and Science Act funding. The company signed a non-binding agreement with the US Commerce Department and could receive up to $225 million in funding. Lest you think Amazon’s gruff crime solver somehow got a piece of the action,
Chip subsidy: US strikes $225 million deal with Bosch
The department said the funding will support Bosch's planned $1.9 billion investment to transform its manufacturing facility in Roseville, California for production of SiC power semiconductors. Commerce is also offering Bosch approximately $350 million in proposed government loans for the project.
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