The global chip shortage is making itself felt loud and clear in Europe as well. Not surprisingly, on the occasion of the summit of the World Economic Forum in Davos, the President of the European Commission Ursula von der Leyen stated that semiconductor production in the Old Continent will be increased by 20% by 2030. This is the goal of the Chip Act, a package of measures that will be presented in February. So let’s go find out more.
Chip Act, so the European Commission will support the production of chips
Ursula von der Leyen was clear. The Chip Act was designed “to strengthen the production capacity of microchips, and will include changes to the rules of state aid to create factories for production in the European Union”. More specifically, the measures will intervene on five different fronts: “more production” located in Europe, first of all. Then a “European leadership” in design, the optimization of the “toolbox” necessary to face the shortage “of semiconductors at a global level, and the support for small innovative companies. Finally, a further “modification of the rules on state aid” for the opening of new factories in Europe.
On the other hand, as von der Leyen argues, “Europe cannot afford to depend on others for the supply of microprocessors“. Especially at a time when the shortage of semiconductors is evident all over the world. A situation that the President of the European Commission has analyzed perfectly: “The demand for semiconductors in the world is exploding, microchips are everywhere nowadays, there is no digital economy without microchips and the EU needs will double in ten years. This is why we have to raise the stakes when it comes to production “. In short, the Chip Act will allow us to respond to the growing need for chips on the territory in the coming years. And this reassures us not a little.