EU promises significant funds to boost local semiconductor production 20 May 2021 | News
Pledge to support domestic chip fabs as EU’s dependence on Asian supplies of these essential components hits production of finished goods. Meanwhile, Brussels advances battery project in another bid restore technology independencechip
Thierry Breton, European Commissioner for Internal Market. Photo: European Commission
The EU is ready to commit “significant” funds to expand Europe’s semiconductor manufacturing industry, industry commissioner Thierry Breton pledged on Thursday, amid fears that the global chip shortage is damaging the bloc’s automakers and electronics suppliers.
After a meeting at Dutch equipment supplier ASML, Breton said Europe would need to expand its manufacturing capacity of mid-level chips before it could achieve a goal of doubling Europe’s share of global semiconductor production to 20% and producing leading-edge 2-nanometer chips by 2030.