EU warned against over-reliance on ‘very big’ chip producers

eu warned against over reliance on very big chip producers

Sumary of EU warned against over-reliance on ‘very big’ chip producers:

  • The European Union should guard against relying on a handful of “very big” chip producers as it weighs billions of euros of potential investment in semiconductors, the bloc’s digital policy chief Margrethe Vestager told Bloomberg TV.
  • European leaders have called for more investment to alleviate a supply shortage that has rippled through several industries, and companies such as California-based Intel Corp, which has a facility in Leixlip, Co Kildare, have been chasing European support to help increase local capacity.
  • But Vestager, who is also in charge of competition matters, showed scepticism about funding for production facilities, saying support for semiconductors needs to aim instead for “a much more diversified supply chain”.
  • ” Substantial investmentEuropean Commission president Ursula von der Leyen called for substantial investment in the semiconductor industry earlier on Wednesday.
  • She said the commission would present a new “European Chips Act” in the coming weeks aimed at linking together world-class research, design, testing and production capabilities.

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