EU Joins Chips Race With 42 Bn Euro Bid to Rival Asia

upstart writes:

EU joins chips race with 42 bn euro bid to rival Asia:

The production of semiconductors, also known as chips, has become a strategic priority in Europe as well as the United States, after the shock of the pandemic choked off supply, bringing factories to a standstill and emptying stores of products.

The manufacturing of chips overwhelmingly takes place in Taiwan, China and South Korea and the European Union's 27 member states want factories and companies inside the bloc to take on a bigger role.

Thierry Breton, the EU's industry commissioner, on Tuesday will press Europeans to be as ambitious as possible and match similar plans in the United States, where the Biden administration is asking Congress to approve $52 billion.

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