STMicroelectronics invests $60 million to upgrade its French factory and build a pilot line for advanced chips.

Chip manufacturer STMicroelectronics announced on Wednesday that it will invest $60 million in its factory in Tours, France, with plans to establish a pilot production line for advanced semiconductor manufacturing technology at the facility. The new technology being developed in this plan is called "panel-level packaging." With this technology, STMicroelectronics can manufacture chips on large square panels, replacing traditional small circular silicon wafers.