On Tuesday, the European Parliament adopted the Chips Act, a landmark law aiming to bolster the bloc’s autonomy and competitiveness in the semiconductor sector.
The act has been in the works for over a year now, but recent developments seem to have sped up the process. Specifically, the announcement comes after China’s recent export controls on gallium and germanium, two metals critical for semiconductor manufacturing.
“The EU Chips Act will be an instrument of technological and industrial leadership for Europe,” tweeted EU Commissioner Thierry Breton.
Chips Act massively adopted! ✅
The EU #ChipsAct will be an instrument of technological and industrial leadership for Europe 🇪🇺
There is no industrial policy without #factories and without #semiconductors.
EU is back! pic.twitter.com/q6iXtI3sYZ
— Thierry Breton (@ThierryBreton) July 11, 2023
The bill has two main objectives. First off, to attract investments in research, innovation, and chip development. Second, to increase production sites within the bloc’s borders and strengthen domestic manufacturing capacity.
The
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