The EU states have agreed on their line for a planned billion-euro program to promote EU microchip production. The project aims to mobilize 43 billion euros from public and private sources to make the EU less dependent on imports, especially from Asia.
“We are now joining forces in Europe to improve production conditions,” said Sven Giegold (Greens), State Secretary in the Ministry of Economic Affairs. “That’s good for Germany. That’s good for Europe as an industrial location.”
The EU Commission had already presented the original plans in February. The goal is ambitious: the EU’s share of the world market for chips is to grow from almost 10 to 20 percent by 2030. That would require production to quadruple as the market is expected to double by the end of the decade. The so-called Chips Act is intended to prevent Europe from being further left behind by other regions such as Asia or America. Countries like the USA or China also invest a lot of money in this branch of industry.
The European Parliament has yet to decide its position on the Chips Act. After that, the EU states and Parliament can start negotiations on the final version of the project.
