EU's "Chip Act" released
dates:2022-02-14    Browse times: 271    

In order to avoid the dilemma of chip shortages in the future, following the United States, the European Union has now introduced a new "Chip Act" to support the development of the local semiconductor industry. The bill plans to invest about 43 billion euros to help the EU chip industry leverage its strengths in research, manufacturing and other fields, strengthen research and development while at the same time filling defects and boosting production, in order to reduce dependence on Asian supply chains.

 

The bill next needs to be approved by member states and the European Parliament, and once implemented it will involve public and private investment. According to the official plan, under the promotion of the "Chip Act", the EU's share of the global semiconductor market will double to 20% by 2030. “The Chip Act will transform the global competitiveness of the European single market,” European Commission President Ursula von der Leyen wrote in a statement. Supply disruptions happen. In the medium term, the bill can help Europe become an industry leader in this strategic area.”

 

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