UPDATE 2-EU plans ‘Chips Act’ to promote semiconductor self-sufficiency

update 2 eu plans chips act to promote semiconductor self sufficiency

Sumary of UPDATE 2-EU plans ‘Chips Act’ to promote semiconductor self-sufficiency:

  • STRASBOURG, Sept 15 (Reuters) – The European Commission announced plans on Wednesday for a new chipmaking “ecosystem”, to keep the EU competitive and self-sufficient after a global semiconductor shortage showed the hazards of relying on Asian and U.S. suppliers.
  • “Digital is the make-or-break issue,” Commission President Ursula von der Leyen said in a policy speech at the European Parliament in Strasbourg on Wednesday.
  • “Industry Commissioner Thierry Breton said chips were more than just key components for automakers, smartphone makers and video gamers.
  • A shortage of semiconductors has posed one of the biggest risks to the EU’s rebound from the effects of the COVID-19 pandemic.
  • The Commission last year unveiled plans to invest a fifth of its 750-billion-euro COVID-19 recovery fund in digital projects.
  • Von der Leyen lamented the EU’s reliance on Asian-made chips and its diminished share in the supply chain, from design to manufacturing capacity.

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