US chipmaker onsemi will invest $2 billion in a chip production facility in the Czech Republic

The U.S. chipmaker onsemi is planning a multi-year investment of up $2 billion in its production facility in the Czech Republic. The government said the money will be invested in the company’s existing production facility in the eastern Czech town of Roznov. It’s the biggest single foreign investment in the country since the split of Czechoslovakia in 1993. The company based in Scottsdale, Arizona, currently produces 10 million chips a day in Roznov. The government said the investment would increase production by hundreds of percent and create more jobs.