The European Commission announced the Chips Act last year in an attempt to reduce the bloc's reliance on U.S. and Asian supplies after global supply chain problems led to chip shortages for European companies.
In February last year, the European Union promulgated the preliminary draft of the "Chip Act", finalized the goal of four times the production capacity in eight years, and planned to invest 43 billion euros in a new generation of chip factories (IT home note: currently about 323.36 billion yuan), in order to enhance the EU's Global share of chip production.
Reuters quoted people familiar with the matter as saying that the EU may reach an agreement on the EU's "Chip Act" on April 18. EU member states and the European Parliament are likely to agree on April 18 on a multibillion-euro plan to boost the bloc's chip industry.
The EU issued its own chip law to protect its competitiveness in the digital economy and information technology, and to ensure its autonomy and security. With the rapid development and wide application of digital technology, chips, as an important part of digital products, have become one of the key areas of modern economy and national security.
The main reason for the EU to issue the Chip Act is that it relies heavily on imported chips, and the chip supply chain faces complex geopolitical environments and security risks from different countries and regions. In order to reduce these risks and ensure the independence and autonomy of its digital economy, the EU needs to implement a series of measures to improve the technical strength and market share of the local chip industry.
In addition, the EU's Chip Act also aims to strengthen its supervision and management of the digital economy and information technology fields to ensure fair competition and market transparency. By promoting the standardization and quality control of digital products, the EU hopes to improve the competitiveness and innovation capabilities of the European chip industry and lay a solid foundation for the sustainable growth of the European economy. The main goal of this "Chip Act" is to increase the EU's chip production capacity from the current 10% of the world to 20% by 2030.
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