EU approves Chips Act aiming to double semiconductor market share by 2030

The Council of the European Union approved a regulation to strengthen Europe’s presence in the world of semiconductors, better known as “Chips Act”. The legislation aims to create better conditions for European countries to get into semiconductor manufacturing, attract investments, promote research and innovation and prepare the continent for any future supply chain crisis. Why does the EU need the Chips Act? Once the program kicks in, it will see €43 total investments, €3.3B of which will be donated directly from the EU budget, and the aim is the global market share to double...