EU approves a plan worth € 43 billion to support electronic chips

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EU approves a plan worth € 43 billion to support electronic chips

[19/04/2023 08:47]

BRO - SABA
The European Union (EU) approved a bill to support electronic chips with total cost €43 about $47 billion to boost Europe's production of semiconductors and reduce its exposure to supply chain disruptions.

The project aims to attract key chip makers to build factories in the countries of the EU and to increase their share of global production to 20 percent by 2030 and to set measures to prepare, anticipate and swiftly respond to any future supply chain disruptions.

The project also is intended to reduce the EU's dependence on Asia as Taiwan accounts for more than 60 percent of global chip production.