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AP National Business

EU opens door to giving aid for semiconductor production

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Published 8:37 AM

By SAMUEL PETREQUIN
Associated Press

BRUSSELS (AP) — The European Commission says it could approve aid to fund production of semiconductors in the 27-nation bloc amid a global chip shortage. Most chipmakers are based in Asia, and the bloc wants to reduce its dependence on chips manufactured abroad by developing production on its soil. The announcement Thursday followed the presentation in September of the European Chips Act, aiming to make the bloc competitive in the race for the most advanced chips, a key component in everything from smartphones to cars. Earlier this year, the EU also launched an industrial alliance aiming to increase the bloc’s share of the global production of semiconductors to 20% by 2030.

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