EU Chips Act heading for failure, time for Chips Act 2.0
The European Chips Act is in deep trouble, with a report by the European Court of Auditors stating it’s unlikely to hit its ambitious goal of securing a 20 percent share of the global semiconductor market by 2030. The report highlights multiple flaws in the current strategy, suggesting that it set unattainable targets while lagging behind in funding and oversight.
Key Points
- The EU’s aim for 20% market share in semiconductor production by 2030 has been deemed overly ambitious.
- The European Commission’s (EC) progress has been slow due to fragmented funding and insufficient investment levels.
- The forecast suggests the EU’s market share will only reach 11.7% by 2030, indicating a lack of improvement.
- Key issues include overly ambitious goals, fragmented competences, and lack of comprehensive oversight on funding.
- With funds directed mainly towards major companies like Intel, there’s a risk of losing investment in case of project failures.
Why should I read this?
If you’re into tech and policy, this article cuts through the fluff and tells you why the EU Chips Act is floundering. Grab the scoop on the key challenges facing Europe’s semiconductor ambitions. It’s a must-read to understand how Europe could reshape or completely fail its position in the global tech race. Trust me, reading this will save you some serious time!