Wales is set to benefit from a £250 million investment from one of the world’s largest semiconductor manufacturers that will be vital to the production of electric vehicles, supporting the government’s Plan for Change in delivering more skilled jobs and turbocharging the economy.
Chancellor Rachel Reeves welcomed Vishay Intertechnology’s intention to invest on a visit to its Newport plant—the UK’s largest semiconductor facility—as part of plans to develop large-scale compound semiconductor manufacturing in the country.
Business and Trade Secretary, Jonathan Reynolds, said: “This is a huge vote of confidence in the Welsh economy and our plans to make Britain the destination of choice for investments in the industries of tomorrow. It will support local skilled jobs and raise living standards, showing our Plan for Change is working.
“Vishay’s investment will help secure a domestic supply of semiconductors which are vital for our world leading automotive sector and support our clean energy industries.”
