European Union, global Aiming to reduce reliance on US and Asian suppliers amid supply chain disruptions is taking important steps to strengthen the semiconductor industry. With the EU Chip Act, a €43 billion (US$47 billion) plan, the bloc will cut its share of global chip production within a decade. doubling to 20% plans. As EU countries and MPs prepare to meet on April 18 to finalize funding details, Approval of the Chip Act looks close.
EU’s brave 43 billion euros ($47 billion) The plan is on track to receive approval from EU countries and MPs on April 18. The law aims to strengthen the European semiconductor industry and reduce dependency on the US.
The main goal of the legislation is to double the EU’s share of global chip production to 20% in ten years. The announcement comes after the US passed its own Chips for America Act to compete with China’s tech sector. EU countries and their MPs, the European Parliament’s At its session in Strasbourg on 18 April They will meet and are expected to agree on financing details for the Act.
Initially, the European Commission only offered funding for advanced processor factories. However, EU governments and lawmakers have now expanded the scope to include the entire value chain, such as legacy chips and research and design facilities. One of the main drivers of this expansion is A leading innovation hub in nanoelectronics and digital technologies with over 600 major industry playersi was Belgium-based IMEC. Lawmakers see IMEC as a crucial reason to invest more in EU research and development.
The decision to support the entire value chain also alleviates smaller EU countries’ concerns about being left out. For example Intel was impressed by this law and chose Germany for its new megachip manufacturing complex. Similarly, Franco-Italian company STMicroelectronics has partnered with GlobalFoundries to build a €6.7 billion chip factory in France, backed by the French government.