WASHINGTON -- The U.S. Commerce Department's agreement to grant $1.5 billion to New York-based chipmaker GlobalFoundries comes as U.S. lawmakers raise the specter of Chinese firms undercutting American producers of chips for cars and consumer electronics.
The grant funding, announced Monday, will be allocated between three projects: a new fabrication facility in the state of New York, an expansion to an existing New York facility that will enable GlobalFoundries to supply chips for General Motors, and upgrades to a Vermont facility that will support the production of chips made with next-generation materials.
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