FOR IMMEDIATE RELEASE
February 20, 2024
Contact: media@americanautomakers.org
American Automakers Applauds Largest CHIPS Investment Since Inception of Program
Washington, D.C. – The American Automakers Policy Council (AAPC) today applauded the U.S. Department of Commerce’s CHIPS Program preliminary funding announcement for GlobalFoundries, a key domestic supplier of automotive-grade semiconductor technologies and chips built on mature nodes. The CHIPS Act funding would provide GlobalFoundries approximately $1.5 billion to support new and expanded production capacity for automotive, communications, and defense semiconductors. This is the largest investment yet since the creation of the CHIPS program.
“AAPC’s member companies are critical to the U.S. economy and the auto tech components this investment will produce are critical to U.S. auto manufacturers. American Automakers supported the bipartisan CHIPS Act because it would speed production and investment in domestic production of semiconductors. The CHIPS Act is creating a path to help U.S. auto manufacturers get the components they need and we look forward to even more investment in the weeks and months ahead,” said Governor Matt Blunt, president of AAPC.
The American Automotive Policy Council (AAPC) represents American Automakers Ford Motor Company, General Motors Company and Stellantis. AAPC is a Washington, D.C. association representing the common public policy interests of its member companies.
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