EU Chips act unveiled – Ursula von der Leyen

The European Commission today unveiled details of a proposed EU Chips Act which aims to significantly bolster the production and development of semiconductors in the European Union.

Microchips are used in a wide range of products from smartphones cars and washing machines to healthcare, energy, and industrial systems.  

But the EU is highly dependent on other countries such as Taiwan for their production. And this new act aims to increase Europe’s production of microchips to twenty percent (20%) of the global market share by 2030.

When announcing details of the new act today, the President of the European Commission Ursula von der Leyen said the global shortage of microchips slowed Europe’s economic recovery from the Covid pandemic.

Out words: strategic market

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