https://sputnikglobe.com/20230810/eu-to-invest-over-100bln-in-semiconductor-development-1112506416.html

EU to Invest Over $100Bln in Semiconductor Development

EU to Invest Over $100Bln in Semiconductor Development

Sputnik International

The European Union is planning to invest more than 100 billion euros ($110 billion) in semiconductor development in order to decrease its dependency on imports, European Commissioner for Internal Market Thierry Breton said on Thursday.

2023-08-10T10:31+0000

2023-08-10T10:31+0000

2023-08-10T13:20+0000

world

european union (eu)

council of the european union

thierry breton

semiconductors

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"I am announcing that we intend to invest over 100 billion euros in the EU to provide for our needs as well as exports," Breton told radio broadcaster, noting that Europe manufactures just 9% of all semiconductors globally. In order to satisfy the bloc's needs, the EU has to increase its production share to 20% by 2030, he added. The Council of the European Union in July finally approved a 43-billion-euro ($47 billion) plan, also known as the Chips Act, to supply Europe with semiconductors. This program aims to create conditions for the development of European semiconductor manufacturing in order to prepare Europe for a possible chip supply crisis.

https://sputnikglobe.com/20230721/taiwanese-semiconductor-giant-delays-arizona-plant-production-amid-us-china-chip-race-1112027823.html

2023

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semiconductor development, european commissioner for internal market thierry breton, european union