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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Economy

Economy

Industry head Breton says EU must manufacture cutting-edge computer chips.

EU Commissioner for Internal Market Thierry Breton looks on during a news conference after a visit i... EU Commissioner for Internal Market Thierry Breton looks on during a news conference after a visit in an ammunition factory in Nowa Deba, Poland, March 27, 2023. Patryk Ogorzalek/Agencja Wyborcza.pl via REUTERS
EU Commissioner for Internal Market Thierry Breton looks on during a news conference after a visit i... EU Commissioner for Internal Market Thierry Breton looks on during a news conference after a visit in an ammunition factory in Nowa Deba, Poland, March 27, 2023. Patryk Ogorzalek/Agencja Wyborcza.pl via REUTERS

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On Tuesday, E.U. industry head Thierry Breton lauded the European Chips Act passed last month, saying Europe must manufacture its cutting-edge computer chips and not be limited to research or outdated chips.

“With the Chips Act now agreed, we are sending a strong signal to all of you, in Europe and outside, that Europe is open for business,” he told an Antwerp semiconductor conference.

The Chips Act is Europe’s response to U.S., Chinese, Taiwan, South Korean, and Japanese semiconductor manufacturing incentives.

Breton reiterated his objective of raising Europe’s share of chip manufacturing to 20% from 10%, while experts say the E.U. strategy is less supportive than the U.S. or China’s.

“Direct support for the manufacturing base in Europe across the whole supply chain: being excellent in research is not enough,” Breton remarked. Build plants and produce in Europe to be industrially relevant”.

He also disputed the concept that Europe should focus on its skills in developing older chips for its automobile industry.

“We are refusing any attempt of geographical segmentation where Europe would produce mature nodes (computer chips), while Asia and the U.S. would produce advanced nodes,” he stated.

While the E.U. will engage with friends, Breton said, “Europe will equally defend its industrial interests and leadership when they are at stake.”

He spoke at an Interuniversity Microelectronics Centre (IMEC) event.

The Chips Act has spurred new projects by Intel, Infineon, STMicroelectronics, and Global Foundries. In addition, TSMC, the world’s leading chipmaker, may invest in Germany.


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