Currently, the vast majority of chips are made in Asia and North America. However, Europe intends to change this state of affairs by joining the game as a third force. And the road to this place has just become shorter, because the development of European microcircuits will no longer be based only on the slogans of politicians, but also on money. And very large ones.
The European Union will distribute 22 billion euros for the development of chips
The European Commission has introduced a law on chips, which means transferring almost EUR 22 billion to support the local production of microcircuits. The EC decided to include 56 companies in the initiative, which are to jointly implement 68 different projects. The list includes both companies from the segment of small and medium-sized enterprises, as well as start-ups, and the projects are to concern e.g. communication technologies, autonomous driving and artificial intelligence. The Commission described them as “very ambitious”. In the first place, the Community intends to transfer EUR 8.1 billion from the public funds of the Member States, and another EUR 13.7 billion is to be collected as part of private investments. We are to see the first fruits of our work in 2025.
The EC expects the money to translate into significant improvements to the technologies involved in the works and to create at least 8,700 new jobs directly. In addition, the financing is to stimulate the development and production of microelectronics on the Old Continent and to build a European supply chain that will allow us to become independent, among others, in from China. We could see how important this is during the pandemic, when broken supply chains in Asia meant that Europe lacked integrated circuits for the production of electronics present in, among others, electronics. household appliances and cars. The long-term goal is to enable Europe to become the third power (after Asia and North America) in the chip production market. The EC wants the Old Continent to increase its share in the production of chips from the current approx. 9 percent. up to 20 percent in 2030.
Source: Gazeta
At 247 News Agency, Jason has covered a wide range of topics, from politics and business to crime and entertainment. He is highly respected by his colleagues and peers, and his articles are widely read and shared. With a passion for news and a commitment to accuracy, Jason Root is a valuable asset to the 247 News Agency team.
