Europe has followed the US in setting out plans for a massive increase in semiconductor manufacturing, as Brussels attempts to secure supplies of the chips that drive the global economy.
Unveiling a €43bn investment plan, the European Commission said it wanted to use state aid to promote research and production of higher technology chips used in computers, smartphones, vehicles and other products.
The coronavirus pandemic had “painfully exposed the vulnerability” of Europe’s supply chains, said commission president Ursula von der Leyen, with production lines for cars and other goods hit by shortages.
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