The European Union announced that the Chip Act plans to significantly increase the share of chip production

On February 8, local time, the European Commission announced the Chip Act, which has attracted much attention from the outside world, which plans to significantly increase the EU's share of global chip production.

Under the bill, the EU will invest more than €43 billion in public and private funding to support chip production, pilot projects and start-ups. Of this, 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 and testing. By 2030, the EU plans to increase its share of global chip production from the current 10 percent to 20 percent.

European Commission President von der Leyen said on the same day that the Chip Act can change the EU's global competitiveness. In the short term, it will enable the EU to anticipate and avoid supply chain disruptions, thereby increasing resilience to future crises; in the medium term, it will help the EU become a leader in the chip strategy market.