subsidies

The state government will also assist companies setting up semiconductor units here in skills and training, in addition to establishing a research and development centre along with the centre of excellence.Uttar Pradesh govt has announced massive subsidies as well as exemptions for investors on setting up semiconductor units in Uttar Pradesh, under the UP Semiconductor Policy 2024.The investors will get significant subsidies on capital, interest and land along with…

US commerce secretary Gina Raimondo said on Monday most chips companies seeking government subsidies will get significantly less than they have sought, since the government received requests for more than double the $28 billion it plans to award.Raimondo said companies in leading edge chips manufacturing have requested more than $70 billion. She said the department is engaged in tough ongoing negotiations with individual companies.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian…

Japan said it will give TSMC up to 732 billion yen ($4.86 billion) more in subsidies to help it build a second chip fabrication plant as the Taiwanese company on Saturday marked the opening of its first Japanese factory.TSMC's decision to build chips in Japan has become a key component of Tokyo's push to revive advanced semiconductor manufacturing and harden its industrial supply chains against disruptions as tensions with neighbouring China grow."The chips will be more advanced than the first factory and can be used for…

Like it did with passenger EV rebates back in December, Germany has decided to pull the plug on subsidy programs for electric semi trucks and city buses. What happens to the nation’s commercial EV market now? If you’re a regular Electrek reader, you probably believe that Germany acted prematurely when it cut its EV subsidy program in December (a full year earlier than expected). Combined with rapid global inflation driving up vehicle prices and governments throughout the EU pouring money into hydrogen…

The Biden administration is in talks to award more than $10 billion in subsidies to Intel Corp , Bloomberg News reported on Friday, citing people familiar with the matter.Negotiations are underway, and Intel's award package will likely include both loans and direct grants, according to the report. The U.S. Department of Commerce, which oversees the disbursement of CHIPS Act funds, and Intel declined to comment. The department has already announced two smaller Chips Act grants and U.S. Commerce Secretary Gina Raimondo said…

The International Monetary Fund (IMF) has said that there is an urgent need for Nigeria to completely phase out costly fuel and electricity subsidies as part of measures to address its economic challenges. These subsidies, deemed inefficient and ineffective in reaching intended beneficiaries, were identified as worsening the nation’s fiscal challenges and hindering efforts to address poverty and food insecurity. In its report titled ‘IMF Executive Board Concludes Post Financing Assessment with Nigeria,’ the IMF…

Last Updated: February 12, 2024, 17:50 ISTFAME-II Incentives Revised: Electric Vehicle Subsidies Now Based On Ex-Factory Prices. (Representative Image) (Photo: Canary Media)This revision aims to eliminate disparities in pricing across states and standardise the treatment of all vehicle segments within the policy framework.In a significant move aimed at streamlining the incentives under the Faster Adoption and Manufacturing of Electric Vehicles (FAME-II) scheme, the Ministry of Heavy Industries announced a shift in the…

Subsidies under the second phase of FAME Scheme will be eligible for e-vehicles sold till March 31, 2024 or till the time funds are available, whichever is earlier, the government said on Friday. To give a further push to clean mobility in the country, the Ministry of Heavy Industries has announced that the outlay of the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME-II) programme has been enhanced from Rs 10,000 crore to Rs 11,500 crore, an official statement said. The heavy industries ministry…

The Biden administration is expected to award billions of dollars in subsidies to top semiconductor companies including Intel, and Taiwan Semiconductor Manufacturing Co in the coming weeks to help build new factories in the United States, the Wall Street Journal reported on Saturday.The forthcoming announcements are aimed at kick-starting manufacturing of advanced semiconductors that power smartphones, artificial intelligence and weapons systems, the WSJ reported, citing industry executives familiar with the…

RMI, a nonprofit research group focused on clean energy, projects that all the EV provisions within the IRA, which also include subsidies for new charging stations, will spur the sales of an additional 37 million electric cars and trucks by 2032. That would propel EV sales to around 80% of new passenger-automobile purchases. Those vehicles, in turn, could eliminate 2.4 billion tons of transportation emissions by 2040.  In a preliminary economic analysis, Talon said it hoped to dig up more than 140,000 tons of nickel.…