Chips Act: Council gives its final approval
The Council has today approved the regulation to strengthen Europe's semiconductor ecosystem, better known as the 'Chips Act'. This is the last step in the decision-making procedure.
The Chips Act aims to create the conditions for the development of a European industrial base in the field of semiconductors, attract investment, promote research and innovation and prepare Europe for any future chip supply crisis. The programme should mobilise €43 billion in public and private investment (€3.3 billion from the EU budget), with the objective of doubling the EU’s global market share in semiconductors, from 10% now to at least 20% by 2030.
Original EU council press release: