EU to Invest €43 Billion to Boost Local Chip Production, Reduce Dependency on Asia
The European Parliament and EU member states reached an agreement Tuesday on a plan to boost the supply of semiconductors in Europe, as the bloc races to reduce its dependence on Asian suppliers. The European Union has prioritised local chip production after the coronavirus pandemic triggered supply chain shocks that led to significant shortages. Asian industry, especially firms in China and Taiwan, currently dominate the manufacture and export of semiconductors.
Source: news18.com