A global shortage of semiconductor chips has crippled makers of cars and other goods. Now the European Union has plans to help its own manufacturers with a 'Chips Act'
STRASBOURG, Sept 15 - The European Commission announced plans on Wednesday for a new chipmaking "ecosystem", to keep the EU competitive and self-sufficient after a global semiconductor shortage showed the hazards of relying on Asian and U.S. suppliers.
"Digital is the make-or-break issue," Commission President Ursula von der Leyen said in a policy speech at the European Parliament in Strasbourg on Wednesday. Industry Commissioner Thierry Breton said chips were more than just key components for automakers, smartphone makers and video gamers.European Commission President Ursula von der Leyen delivers a speech during a debate on "The State of the European Union" at the European Parliament in Strasbourg, France, September 15, 2021. REUTERS/Yves Herman"The race for the most advanced chips is a race about technological and industrial leadership," he wrote in a blogpost.
A shortage of semiconductors has posed one of the biggest risks to the EU's rebound from the effects of the COVID-19 pandemic. The Commission last year unveiled plans to invest a fifth of its 750-billion-euro COVID-19 recovery fund in digital projects.
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