European Semiconductor Industry Association (ESIA), the association for Europe’s semiconductor industry, has called for an immediate Chips Act 2.0 to maintain the bloc’s momentum in the global race for technological leadership.
What’s Happening & Why This Matters
ESIA is urging for immediate changes to the EU’s Chips Act to maintain global competitiveness in the semiconductor industry. The EU’s Chips Act aims to increase the bloc’s semiconductor production to 20% of the world’s by 2030, but ESIA believes more changes are necessary for success. ESIA is advocating for a more positive open trade approach to economic security rather than relying on restrictive measures. The group is also pushing for the fast-tracking of state aid schemes to attract international companies and increase domestic chip factories.
TF Summary: What’s Next
ESIA’s call for immediate changes to the Chips Act highlights the urgency in keeping Europe competitive in the global semiconductor industry. The proposed updates could have a significant impact on the region’s technological leadership. It will be interesting to see how the EU responds to these calls for change and how it may impact the semiconductor industry in Europe.
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