Breton: EU to invest billions in chip funding

The European Union apparently wants to invest tens of billions of euros in its own chip industry and double its share of global production to 20 percent. EU Industry, Internal Market and Services Commissioner Thierry Breton told reporters Friday that the global chip shortage had highlighted the risks of dependence on Asian and US suppliers. „I want the EU to be a net exporter in semiconductors, as we are in vaccines,“ he said. In geostrategic industries like batteries or pharmaceuticals, we do the same thing – we don’t do everything ourselves, but we have the capacity,“ Breton said.