The European Commission (EC) has unveiled the Chips Act 2.0, a proposal that builds on the 2023 Chips Act and introduces new measures to boost the semiconductor industry across the continent.
In a statement, the EC said the Chips Act 2.0 will complement other initiatives it has introduced in the intervening years, helping to build a “more competitive, secure, and resilient European digital economy.”
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Despite the progress made by the original Chips Act, the EC noted that the European Union continues to remain dependent on third countries in key areas of the semiconductor manufacturing and design chain. “The Chips Act 2.0 is designed to ensure that Europe captures a larger share of this opportunity, while strengthening areas where we already excel,” it said.
The new act has four main objectives: improving investment conditions; stimulating demand and industrial uptake; reinforcing supply-side measures; and increasing resilience and reducing dependencies.
