The European chip industry must become a lot stronger in the coming years and less dependent on other continents. That is the aim of the European Commission with a bill, the Chips Act, which should pave the way for billions in investments in the sector.
The European Commission wants to more than double the market share of the European chip sector to 20 percent by 2030. The share is now about 8 percent.
Commission President von der Leyen calls the legislation a game changer for the EU’s position in the global chip market. “In the short term it will make us more resilient to future crises and in the medium term it will help make Europe an industry leader.” The committee has in mind a budget of 43 billion euros, which must consist of both public and private money.
The intention is that a quarter of the budget will come from public funds and the rest from the private sector.