The European Union unveiled a chip bill that aims to boost chip production substantially

2022-08-02 0 By

The European Commission on Tuesday unveiled its much-anticipated chip bill, which aims to significantly increase the EU’s share of global chip production.Under the bill, the EU will spend more than 43 billion euros in public and private funds to support chip production, pilot projects and start-ups.Of this amount, 11 billion euros will be used to strengthen existing research, development and innovation to ensure the deployment of advanced semiconductor tools and pilot production lines for prototyping, testing and more.The EU plans to increase its share of global chip production to 20 percent by 2030, up from 10 percent now.European Commission President Von der Leyen said on the same day that the CHIP bill can change the EU’s global competitiveness.In the short term, it will improve the EU’s resilience to future crises by enabling it to anticipate and avoid supply chain disruptions;In the medium term, it will help the EU to become a leader in the strategic chip market.Editor: Tian Ye