EU agrees chips subsidies plan, EU industry chief says

The EU Chips Act aims to double the bloc's global chip output to 20% by 2030.Florence Lo | Reuters

The European Union has agreed a 43-billion-euro plan to boost its semiconductor industry to try to catch up with the United States and Asia, EU industry chief Thierry Breton said on Tuesday. The European Commission, EU countries and EU lawmakers had been negotiating on the final details of the Chips Act in Strasbourg, eastern France, since 7 a.m. .Reuters reported on April 5 a deal was imminent this week.

The Chips Act aims to double the bloc's share of global chip output to 20%by 2030 and comes after the United States announced its CHIPS for America Act to compete with Chinese technology. While the Commission had originally proposed funding only cutting-edge chip plants, EU governments and lawmakers have widened the scope to cover the whole value chain, including older chips and research and design facilities."The EU Chips Act will crowd-in investments to where they are most needed – in manufacturing capabilities, skills, and R&D.

No power to make chips in EU lmao

Hey get your Coal power from Germany now before it's all sold out. How will EU charge EVs with no power to do so. Will the poor suffer with no heat or lights because wealthy folks get all the power? I must know how. If you bank on solar and wind you just blew your waud.

EU chips plan is generous, maybe DE chips plan ?

The importance of chips to the world

Skip 🤌🏽

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US tax breaks lure European clean tech companies as EU lagsNorwegian battery startup Freyr is planning its next factory in an Atlanta suburb because a new U.S. clean energy law offers generous tax credits for local production. Across Europe, companies seeking to invest in the green energy boom ranging from batteries to solar panels are making similar calculations. They're weighing up the U.S. Inflation Reduction Act’s $375 billion in benefits for renewable industries against Europe's fragmented response. Executives hail the U.S. program’s simplicity. Some complain that a plan from the 27-nation European Union is underwhelming, confusing and bureaucratic, putting Europe at risk of falling behind in the green energy transition. The Only way to stop climate change is to have politicians fly on private jets without us The more 'the world' ignores that big yellow circle in the sky, the dumber 'the world' looks! How can you battle something that doesn’t exist?
Source: AP - 🏆 728. / 51 Read more »

European shares edge higher ahead of more Wall St earningsEuropean shares inched up on Monday as investors remained optimistic about U.S. corporate earnings this week, while awaiting more economic data to assess the health of euro zone economies. wheel
Source: Reuters - 🏆 2. / 97 Read more »