The purpose of the European Chips Act is to ensure that the EU has the necessary tools, skills and technological capabilities to become a leader in this field beyond research and technology in design, manufacturing and packaging of advanced chips, to secure its supply of semiconductors and to reduce its dependencies, was told in a press release. Commission President Ursula von der Leyen said:
“The European Chips Act will be a game changer for the global competitiveness of Europe’s single market. In the short term, it will increase our resilience to future crises, by enabling us to anticipate and avoid supply chain disruptions.”
“And in the mid-term, it will help make Europe an industrial leader in this strategic branch. With the European Chips Act, we are putting out the investments and the strategy. But the key to our success lies in Europe’s innovators, our world-class researchers, in the people who have made our continent prosper through the decades.”
The Commission also proposes an accompanying Recommendation to Member States. It is a tool with immediate effect to enable the coordination mechanism between the Member States and the Commission to commence straight away. This will allow as from now to discuss and decide on timely and proportionate crisis response measures.