European lawmakers and industry groups are pushing for the "EU Chip Act 2.0" to further change and upgrade European semiconductors.
The EU Chip Act will officially come into effect in 2023. It proposes to increase the EU's share of the global semiconductor market from 10% to 20% by 2030 and achieve local production of advanced processes of 2 nanometers and below. To this end, the bill plans to mobilize 43 billion euros of public and private investment to usher in a number of large-scale semiconductor manufacturing projects. For example, Intel invested 33 billion euros to build two wafer fabs, and the ESMC factory jointly owned by TSMC and Bosch focused on 28 nanometer mature processes.
However, the bill currently faces many challenges, such as funding gaps, technological gaps, over-reliance on imported raw materials, and high energy prices.
The European Court of Auditors (ECA) believes that the EU's goal of achieving 20% of global chip production by 2030 may not be achieved.