EU joins chips race with €43-billion bid to rival Asia
The Hindu
Bloc aims for 20% of global market by quadrupling efforts
The EU on Tuesday unveiled a plan to quadruple the supply of semiconductors in Europe by 2030, hoping to limit the bloc’s dependence on Asia for a key component used in electric cars and smartphones.
The production of chips has become a strategic priority in Europe as well as the United States, after the shock of the pandemic choked off supply, bringing factories to a standstill and emptying stores of products.
The manufacturing of semiconductors overwhelmingly takes place in Taiwan, China and South Korea and the European Union wants factories and companies inside the bloc to take on a bigger role.
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