Proposed last yearEuropean CHIP Act (EU Chips Act), earlier passed by the European ParliamentOfficially approved, will use a total of more than 430 billion euros in public and private investment to promote the visibility of chips produced in Europe in the global market and reduce dependence on chips produced in the United States and Asia.
Currently, the proportion of chips manufactured in the EU is about 10%. The EU hopes to increase this to 2030% by 20 and attract more investment from businesses to promote chip product research and innovation. It also expects to reduce future chip supply shortages.
This bill will also allow the EU to reduce its concerns about the geopolitical concentration of chip products in Asia, where most chip products are concentrated. At the same time, the EU also hopes to use this to enhance Europe's competitive advantage in the chip industry and attract more chip companies to set up factories and manufacture products in Europe.
In addition to the EU, the United States has also recently signed and passed the Chip and Science Act, which will subsidize the development of the chip industry with up to $520 billion in funding and provide relevant tax incentives, of which $390 billion will be used for chip product production and manufacturing, thereby promoting the development of the US chip industry.
