European Union Seeking to Strengthen Semiconductor Ecosystem
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Authors: Mark Nossokoff, Bob Sorensen
Publication Date: 2 202022
Length: 1 pages
On February 8, 2022, the European Commission formally proposed what’s commonly referred to as the European Chips Act. The legislation plans to build on Europe’s strengths and address weaknesses to develop a thriving domestic semiconductor ecosystem and resilient supply chain, while setting measures to anticipate and respond to future supply chain disruptions. In the short term, the Act seeks to bolster EU capabilities to anticipate future chips crises, strengthen manufacturing activities in the EU, and support scale-up and innovation across the whole value chain. In the mid- to long-term, it seeks to reinforce Europe’s technological leadership while developing mechanisms to support transfer of knowledge from the lab to the fab and position Europe as a technology leader in innovative downstream markets.