In response to previous chip shortages, the proposed European chips act aims to mobilise €43 billion in ‘policy-driven investment’ to reinforce the EU’s semiconductor capabilities by 2030. At the same time, equivalent strategies in the US, China, South Korea and Japan likewise aim at ramping up investment in their own chip sectors. What must the EU do to keep up, and what are the best- and worst-case scenarios for European semiconductor futures?
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