“We need chips to power digital and green transitions or healthcare systems,” Commission Vice-President Margrethe Vestager said in a tweet. Since the announcement of its chips subsidies plan last year, the EU has already attracted more than 100 billion euros in public and private investments, an EU official said. “The critical piece of the equation which the EU will need to get right, as for the U.S., is how much of the supply chains supporting the industry can be moved to the EU and at what cost,” said [Paul Triolo, a China and tech expert at the Washington-based Center for Strategic & International Studies]. While the Commission had originally proposed funding only cutting-edge chip plants, EU governments and lawmakers have widened the scope to cover the whole value chain, including older chips and research and design facilities.
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