Technology company Huawei is building a new chip plant in Shanghai, China. For this, the company will invest 1.6 billion dollars. Gizmo China reported this news citing local media.
According to the news, one of the goals of setting up a new factory through large investment is to make lithography machines. A lithography machine is also said to be helpful in making new generation microchips in smartphones and other gadgets.
Huawei is said to be hiring experienced engineers from companies such as ASML, Applied Materials, Lam Research, TSMC, Intel and Micron to meet the target. Even domestic chip makers are reportedly being brought in at double the salary.