October 20, 2021

EU eyes ‘Chips Act’ to cope with semiconductor shortage, Tech News News & Top Stories

STRASBOURG, FRANCE – (AFP) – Brussels announced Wednesday (Sept 15) it is drafting legislation to ensure European Union “tech sovereignty” in the face of a global shortage of semiconductors that threatens to hobble its leap towards a digital future.

EU chief Ursula von der Leyen said the European Commission will soon propose a “European Chips Act” that will help underpin the bloc’s ambition to become a digital powerhouse.

“Digital is the make-or-break issue,” she told the European Parliament in her annual State of the European Union address.

EU countries plan to spend collectively more than 160 billion euros (S$254 billion) to boost that sector in coming years – some 20 per cent of the bloc’s 800-billion-euro Covid recovery fund.

The EU’s internal market commissioner Thierry Breton said in a statement that the legislation was a key response to the chronic chip shortage, which is…

Read full article here: www.straitstimes.com