The European Union (EU) is moving forward to strengthen its strategic autonomy. The European Parliament approved the new law this Tuesday, which will allocate 3 billion 300 million euros to support the industry. semiconductorsan important technological component for industries such as automobiles or consumer electronics.
global scarcity chips He highlighted the weakness of the EU in this strategic market, which was highlighted after the outbreak of the covid health crisis. Europe’s share of global production of this product is less than 10% and this calls for the new law to be increased to at least 20% by 2030.
To achieve this ambitious goal, the EU seeks to create an enabling environment for investment and further support companies committed to semiconductor manufacturing. It also aims to speed up permitting procedures and allocate that 3,300 million to research and innovation of these products.
The plenary session, overwhelmingly in favour, with 587 votes, gave the green light to legislation that legislators and the Council of Europe agreed on last April. Only the Council’s approval is awaited before enactment.
Powers for the Commission
The European Commission will be responsible for assessing the risks of this market and will have the mandate to implement emergency measures in the event of a new chip shortage crisis in the EU. These measures range from making joint purchases for Member States to prioritizing the supply of the most affected products.
With this law, the EU aims to take a step forward to strengthen its position in the world by reducing its dependence on other actors to increase its autonomy. Policy makers are committed to increasing production capacity and supply The number of semiconductors within the community club would make it more resistant to another potential deficiency situation. Produced in 2020, while causing increased costs for the industry and consumers, it also slowed down the production rate. economic recovery from the old continent.