In Brussels, European industry ministers on Thursday endorsed a multibillion-dollar plan to increase chip production in Europe and reduce dependence on foreign suppliers.
Czech Minister Josef Sekela announced the agreement on behalf of the EU Presidency: “The EU must reduce its over-reliance on global chip leaders in Asia and the United States. With the Chip Act, we are taking matters into our own hands.” .
Chips are an essential part of today’s digital economy, but the coronavirus pandemic has highlighted the vulnerability of global supply chains. For example, the automotive sector is still in short supply of chips, while the transition to electric vehicles will boost demand in the future.
With the Chip Act, the EU aims to increase its share of global chip production from 10 to 20 percent by 2030. This is equivalent to a quadruple production capacity, as the global market is expected to double in size by the end of the decade. is being.
The plan provides for €43 billion in investment from European and national governments and the private sector. Funding from the European budget, which will be used mainly for research and development, is still being discussed, but European Commissioner for the Internal Market Thierry Breton has no doubts that solutions will be found during the further decision-making process. After all, an agreement has not yet been reached with the European Parliament, which has not yet determined its position.
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