EU approves €43 billion Chips Act to boost domestic chip production
- EU aims to double its share of the global chip market to 20% by 2030.
- Initiative provides public and private funds to expand semiconductor manufacturing in Europe.
- Goal is to reduce reliance on Asia and prevent shortages like those seen during COVID-19.
- Move follows similar efforts by the US and UK to bolster domestic chip production.
- Plan expected to contribute to EU industry renaissance and prepare for future shortages.
The Verge 
Washington Examiner 
Washington Post 
Associated Press 
