The European Council has recently approved the European Chips Act (EU Chips Act) in a bid to double the EU's global market share in semiconductors, from 10 now to at least 20 by 2030 (see page 55). First announced in February 2022, the Chips Act hopes to mobilise €43bn in public and private investment, with €3.3bn coming from the EU budget. With this, the EU hopes to become an industrial baseforthe semiconductor market, attract further investment, promote research and innovation, and prepare for any future chip supply crisis.
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