EU joins chips race with $49.1bn bid to rival Asia

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Tue, 2022-02-08 11:47

The EU on Tuesday unveiled a plan to quadruple the supply of semiconductors in Europe by 2030, hoping to limit the bloc’s dependence on Asia for a key component used in electric cars and smartphones.


The production of chips has become a strategic priority in Europe as well as the United States, after the shock of the pandemic choked off supply, bringing factories to a standstill and emptying stores of products.

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