- It will aim to jointly create a state-of-the-art European chip ecosystem, including production
- It will ensure security of supply and will develop new markets for ground-breaking European tech
As per a report by Reuters, the European Commission announced plans for a new chipmaking ‘ecosystem’, to keep the EU competitive and self-sufficient. It added that Commission President Ursula von der Leyen said in a policy speech at the European Parliament in Strasbourg said that “Digital is the make-or-break issue.”
The report added that it will present a new European Chips Act. It will aim to jointly create a state-of-the-art European chip ecosystem, including production. It will ensure security of supply and will develop new markets for ground-breaking European tech.
The report added that Von der Leyen lamented the EU’s reliance on Asian-made chips and its diminished share in the supply chain, from design to manufacturing capacity. It added that hurdles to building up Europe’s chip capability are many. It includes getting access to rare earth minerals outside the bloc and reluctance by companies to make hefty investments unless they can run the plants at full capacity to boost their return
