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Europe is betting on chips, 43 billion euros on the plate

Europe bets on chips: an agreement is on the way for the da plan 43 billion euros dell’European Union to strengthen its semiconductor sector e bridge the gap with the United States and Asia. The start of the project is scheduled for April 18, according to sources informed about the facts. The announcement is expected today.

Europe invests in the chip market with 43 billion euros

The European Commission has launched the Chips Act last year with the aim of reducing the bloc’s dependence on US and Asian semiconductor suppliersthe. A decision no doubt due to the problems caused to the global supply chain over the past year by this dependency. Which have affected European companies in various sectors, from automotive to manufacturing. But also a strategic choice, given the tendency to make every device “smart”: today chips are not only used for PCs and smartphones, but also for cars, thermostats and refrigerators.

The legislative proposal, which aims to bring the EU’s share of global chip production to 20% within ten years, it was a response to the US CHIPS for America Act initiative to counter China’s technological challenge.

Approval coming soon

Representatives of the countries and of the European Parliament will meet at the assembly’s monthly plenary session in Strasbourg on April 18 to discuss the details of funding the law. And they are expected to reach an agreement, the Reuters sources said.

chip crisis

Negotiations so far have focused on one lack of 400 million euros ($438 million). But the Commission was able to raise much of the necessary resources, they added.

While the Commission had originally planned to support only the most advanced chip factories, countries and EU parliamentarians have extended the scope to include the entire value chain. From older chips to R&D infrastructure. And perhaps also the management of semi-finished products, which could closely concern Italy.

Innovative investments in the Old Continent

MPs supporting the project cited IMEC based in Belgiuma global center of excellence in the nanoelectronics and digital technologies which collaborates with over 600 leading industrial partners, such as a rkey reason to invest more funds in EU research and development.

But the French-Italian company STMicroelectronics has also signed an agreement with GlobalFoundries to build a 6.7 billion euro factory in France. But the company is also investing in our country – the announcement of the new plant in Catania at the end of 2022.

Investments are therefore already there – but the 43 billion in European incentives could relaunch this market, bringing economic benefits both in terms of tax revenues and employment. Or at least this is what they hope in Europe, now ready to take this step.

Walker Ronnie is a tech writer who keeps you informed on the latest developments in the world of technology. With a keen interest in all things tech-related, Walker shares insights and updates on new gadgets, innovative advancements, and digital trends. Stay connected with Walker to stay ahead in the ever-evolving world of technology.