EU Approves €8.1 Billion in Public Funding to Support Chip R&d Projects
2023-06-15 The European Commission has approved €8.1 billion ($8.7 billion) in public funding subsidies for semiconductor research projects as part of the bloc’s initiative to strengthen the local chip supply chain.
So far, Intel, Infineon, STMicroelectronics, Ge-Core and Wolfspeed have all announced new investments. TSMC is also considering establishing a production site in Germany. However, some companies have also expressed criticism of the timeline needed to get the IPCEI project approved.
In fact, in order to promote the development of the EU semiconductor industry, in April this year, the EU approved the “EU Chips Act” involving 43 billion euros in subsidies, aimed at establishing the EU semiconductor supply chain to avoid shortages of chips in important industries such as automobiles, and to compete with counterparts in the United States and Asia, plans to 2030 to produce 20% of the world’s semiconductors.
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