EU agrees on major investments in chip industry

- Advertisement -spot_imgspot_img

The EU countries and the European Parliament have agreed to invest tens of billions of euros in the chip industry. The plans aim to double the European Union’s market share in microchips, a crucial building block of the digitizing economy.

Most chips now come from China and Taiwan, but that supply was not assured during the corona pandemic. Since then, and once again after the Russian invasion of Ukraine, the EU has been trying to become less dependent on foreign suppliers. The West and emerging world power China are increasingly facing each other and there are growing concerns about Taiwan’s security. But Europe also does not want to be drawn into an anti-Chinese camp by the United States.

Brussels is aiming for more than 43 billion euros in investments by governments and private investors.  European chip machine builders such as ASML should be able to take advantage of this.
Brussels is aiming for more than 43 billion euros in investments by governments and private investors. European chip machine builders such as ASML should be able to take advantage of this. (ANP / Ton Toemen Photography)

The new so-called chips regulation “will boost the European semiconductor ecosystem and play a vital role in strengthening the EU’s competitiveness at a global level,” says Sweden, which presides over the EU this six months and negotiates with parliament on behalf of the member states.

At least 20 percent market share in 2030

The EU’s share of the global market for chips must increase to at least 20 percent by 2030. Now the union accounts for half of that. To achieve this, Brussels is aiming for more than 43 billion euros in investments by governments and private investors. Of this, EUR 3.3 billion comes from EU funds. European gems such as the widely cherished Dutch chip machine manufacturer ASML should be able to take advantage of this.

Previously, the US also spent tens of billions on its chip industry. Japan and South Korea, among others, are also investing heavily.


- Advertisement -spot_imgspot_img
Latest news
- Advertisement -spot_img
Related news
- Advertisement -spot_img