EU Approves €8 Billion in State Subsidies for Chip Research
- Projects will be worth €22 billion total with private funds
- EU wants to produce 20% of world’s semiconductors by 2030
The European Commission proposed the EU’s Chips Act in early 2021.
Photographer: Jens Schlueter/AFP/Getty ImagesThis article is for subscribers only.
Semiconductor research projects with €8 billion ($8.6 billion) in public funds were approved by the European Union’s executive arm as part of a push to increase the bloc’s domestic chip-supply chain.
The projects are backed by a total €13.7 billion in private funding, amounting to about €22 billion, the European Commission announced Thursday. It said a total of 68 Important Projects of Common European Interest — or IPCEI — have been given the go-ahead from 56 companies in 19 countries, including Norway.