The EU’s chip bill is expected to attract private investments worth over EUR 100 billion by 2030

The European chip bill could attract private investment worth more than 100 billion euros ($108.41 billion) to the European semiconductor industry by 2030, according to Thomas Skordas, a European Commission official.

Skordas made the announcement during a conference in Antwerp on the future of the initiative, which aims to strengthen Europe’s position in the global semiconductor market.

The European Chips Act, Europe’s strategic response to similar initiatives in the United States, Japan and China, has already attracted significant interest and commitments. “We have received promises of investments of EUR 100 billion to increase production capacity in the EU by 2030.” – said Skordas, emphasizing the bill’s potential to transform the European semiconductor landscape, Reuters reported.

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Although the law provides €43 billion in funding, implementation relies largely on contributions from individual governments. So far, the European Commission has approved limited actual funding. Still, major industry players such as Intel and TSMC have committed to building new manufacturing plants in Germany, representing investments of more than 30 billion euros this year alone.

Skordas, which works in the Commission’s digital division, also revealed plans to finalize funding for pilot research and development lines in four sub-sectors of the chip industry by September.

This includes a significant grant of €2.5 billion to develop extremely advanced chips in Europe. Additionally, he mentioned ongoing efforts to secure funding for another pilot line dedicated to the development of photonics, which involves chips that use light instead of electricity.

Source: Reuters