BRUSSELS/STOCKHOLM : The European Union agreed a 43-billion-euro ($47 billion) chip subsidies plan on Tuesday but the relatively modest budget, lack of a domestic market for cutting-edge chips and red tape could hamper efforts to catch up with the United States and Asia.The size of subsidies under the EU
BRUSSELS/STOCKHOLM : The European Union agreed a 43-billion-euro chip subsidies plan on Tuesday but the relatively modest budget, lack of a domestic market for cutting-edge chips and red tape could hamper efforts to catch up with the United States and Asia.
It also wants to reduce its reliance on Asia. Taiwan accounts for more than 60 per cent of global chip production and concerns are growing about heightened tensions between Taipei and Beijing. But Europe's relatively modest subsidies could put a brake on its ambition, said Richard Windsor of research company Radio Free Mobile.
Dutch company ASML dominates manufacturing of the machines that are required to produce the latest chips used in phones to cars, Germany's Zeiss leads in eyeglass and camera lenses while Belgium's Solvay and Germany's BASF provide critical chemicals. Catching up on the chips race is more than just building factories and the Chips Act acknowledges this with its focus on developing skilled labour for the future, said Anielle Guedes, senior research analyst at IDC Technologies.
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