Europe wants Chips Act 2.0, should include legacy chips: report
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- Following 2023’s $47B Chips Act, Europe wants a round two.
- The European Commission wants the second version of legislation aimed at improving domestic semiconductor manufacturing and production to include “foundational and legacy” semiconductors, Reuters reported, citing comments made by European Semiconductor Industry Association head Rene Schroeder.
- “We’re calling for the Commission to come with a Chips Act 2.0 … encompassing both legacy and foundational semiconductors,” Schroeder told the news outlet.
- The previous version of the Chips Act focused on initiatives such as reducing the dominance of Taiwan Semiconductor’s (TSM) in the global foundry market and making Europe a leader in production. A new version would give some aid to European chipmakers such as Infineon (OTCQX:IFNNF) (OTCQX:IFNNY), NXP Semiconductors (NASDAQ:NXPI) and STMicroelectronics (NYSE:STM), all of whom provide chips for the automotive and industrial areas of the economy.
- Schroeder said the ESIA could work with the European Commission on the matter.
- Infineon, NXP Semiconductors and STMicroelectronics did not immediately respond to a request for comment from Seeking Alpha.