34.4 C
Delhi
Tuesday, April 22, 2025

Japan to inject hefty funding for chipmaker Rapidus

Date:

Share post:

Donate-GC-Razorpay

Tokyo: Japan’s Ministry of Economy, Trade and Industry announced Monday that it will provide up to 802.5 billion yen (about 5.4 billion U.S. dollars) in additional support to Rapidus, a company aiming to mass-produce cutting-edge semiconductors.

With the latest funding, the total government support for Rapidus could reach approximately 1.72 trillion yen.

Rapidus, founded in 2022, is spearheading Japan’s efforts to regain a competitive edge in the global semiconductor industry.

The company plans to launch trial production in April at its factory in Chitose, Hokkaido, with the goal of achieving full-scale mass production by 2027.

The ministry has already provided funding for the construction of the facility and will now extend financial support for equipment procurement, raw materials, production management system development, and manufacturing technology advancements.

Related articles

NASA, SpaceX launch resupply mission to space station

Los Angeles: NASA and SpaceX launched a new commercial resupply services mission to the International Space Station (ISS)on...

UP govt transfers 33 IAS officers along with 3 senior IPS

Lucknow: In a major administrative reshuffle, the Uttar Pradesh government has transferred 33 Indian Administrative Service (IAS) officers,...

SC to hear plea seeking President’s Rule in Bengal amid communal unrest

New Delhi: The Supreme Court is set to hear today a plea demanding the imposition of President’s Rule...

PM Modi embarks on two-day visit to Jeddah, to meet Saudi Crown Prince MBS

New Delhi: Prime Minister Narendra Modi today left on a two-day visit to Jeddah, Saudi Arabia, to attend...