EU Pushed to Boost Chips Act 2.0: Dutch-Led Coalition Seeks Quadrupled Investment
A Dutch-led coalition, backed by all EU member states, is pushing for a revision of the 2022 European Chips Act. Dubbed 'Chips Act 2.0', the initiative aims to bolster Europe's semiconductor industry through increased investment and targeted support.
Launched in March, the coalition seeks to quadruple existing semiconductor fidelity. It calls for a separate budget for semiconductor manufacturing and investment, improved access to skills and finance, and faster approvals for infrastructure spending. The coalition also aims to secure critical chip technologies and foster technological leadership.
The original Chips Act, with a budget of 43 billion euros, fell short of its goals after Intel's withdrawal from Germany. The new coalition hopes to address these weaknesses and increase Europe's share of the global semiconductor supply chain, currently projected at 11.7% by 2030, up from an initial target of 20%. Industry groups like SEMI and 50 dedicated semiconductor manufacturers have also thrown their support behind the initiative.
With broad support from EU member states and industry, the Dutch-led coalition is set to revise the Chips Act. The revision aims to speed up infrastructure spending, improve access to skills and finance, and secure critical chip technologies. The goal is to foster investment, technological leadership, and competitiveness in Europe's semiconductor sector.
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