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The award, to be announced by President Biden at a plant in Arizona, is the biggest the government has made under a new program that aims to rebuild the nation’s semiconductor manufacturing industry.

The grant will go toward chips for the auto and defense industries, and is the largest award to date from $39 billion in government funding.

Automakers sold more cars in 2023 than a year ago as supply chain chaos ended, but sales are now under pressure from higher interest rates.