{"id":4993,"date":"2022-01-21T06:59:04","date_gmt":"2022-01-21T06:59:04","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/01\/21\/ec-president-promises-european-chips-act-to-boost-production-the-register\/"},"modified":"2022-01-21T06:59:04","modified_gmt":"2022-01-21T06:59:04","slug":"ec-president-promises-european-chips-act-to-boost-production-the-register","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/01\/21\/ec-president-promises-european-chips-act-to-boost-production-the-register\/","title":{"rendered":"EC president promises European Chips Act to boost production \u2022 The Register"},"content":{"rendered":"

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The European Commission will introduce legislation next month designed to turn the continent into a center of chip expertise and manufacturing.<\/p>\n

The EC will propose the European Chips Act in early February, which will boost Europe’s infrastructure for the production and supply chain of chip manufacturing, said Ursula von der Leyen, president of the commission, in an address<\/a> to the World Economic Forum on Thursday.<\/p>\n

The goal is to raise Europe’s market share of global chip production to 20 per cent by 2030, which would mean quadrupling the EU’s current output, she said, and would involve state aid to build “first of a kind” production facilities.<\/p>\n

\"Ursula<\/a><\/p>\n

EC president Ursula von der Leyen<\/p>\n<\/div>\n

“Today, most of our supplies come from a handful of producers outside Europe. And this is a dependency and uncertainty we simply cannot afford,” von der Leyen said. “We will create more balanced interdependencies and we will build supply chains we can trust by avoiding single points of failure.”<\/p>\n

Europe today relies heavily on factories in Asia for its chip supplies, with shipping and fuel adding to the cost of semiconductors.<\/p>\n

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