EU member states greenlight amended Chips Act

Envoys of member states have given the go-ahead to an amended version of the EU Chips Act, the 43 billion euro attempt to reduce Europe’s dependence on Asia and the US for semiconductor technology. The scope of the European Commissions’s proposal has been expanded to include a broader range of chips, not just the most advanced ones. Thus, also European ‘specialties’ such as automotive and industrial ICs will likely be eligble for support.

The long term goal of the EU Chips Act is to lift Europe’s share of global chip production to 20 percent, up from its current level of 10 percent. Since the European Commission presented the plan earlier this year, three new manufacturing initiatives have been announced: by Intel, by Infineon and jointly Globalfoundries and STMicroelectronics. Bosch will expand a fab in Dresden.

According to a Reuters report, ministers will meet in December to rubber stamp the plan that will still need to be debated with the European Parliament next year before it can be signed into law.