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.