07:05 AM EST, 11/21/2025 (MT Newswires) -- Onsemi (ON) has been approved to receive 450 million euros ($518.4 million) in European funds to support the construction of a new integrated chip manufacturing plant for silicon carbide power devices in the Czech Republic City of Roznov pod Radhozte, the European Commission said Friday.

The investment is meant to back the EU's "technological autonomy in semiconductor technologies," the Commission said.

The aid will take the form of a direct grant to Onsemi to support its 1.64 billion euro investment in the facility, which is expected to begin commercial operations by 2027, the Commission said.