43 billion euro ($47 billion) Europe’s boost for the Semiconductor Industry

What a great week for the semiconductor industry! The European Union agreed a 43 billion euro ($47 billion) plan in an attempt to catch up with the United States and Asia and start a green industrial revolution.

The #EUChipsAct, proposed by the European Commission last year and confirmed by Internal Market Commissioner Thierry Breton, aims to double the bloc’s share of global chip output to 20% by 2030 and follows the U.S. CHIPS for America Act.

Since the announcement of its chips subsidies plan last year, the EU has already attracted more than 100 billion euros in public and private investments, an EU official said.

While the Commission had originally proposed funding only cutting-edge chip plants, EU governments and lawmakers have widened the scope to cover the whole value chain, including older chips and research and design facilities. 
 
We are very excited and looking forward to Europe’s boost for the Semiconductor Industry!

Source: reuters.com/technology/eu-agrees-chips-subsidies-plan-eu-industry-chief-says-2023-04-18/