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EU says chips policy aim is to ensure resilient supply chain -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO Margrethe Vestager, Vice President of Europe Fit for Digital Age at the European Commission, speaks at the Berlaymont meeting of the College of Commissioners in Brussels on November 10, 2021. Stephanie Lecocq /Po

BRUSSELS (Reuters), – In order to prevent a subsidy war, the European Union’s policy for state aid to semiconductor production will aim to reduce the number of subventions. Instead, companies should strive to diversify their supply chains to maintain a stable supply chain, said the European Commission.

A news conference was held by the European Commission for Competition Magrethe vestager. She stated that each case for supply of semiconductors would be thoroughly evaluated based on its merits to make sure the project is European and avoid any subsidy races within and outside the Union.

She stated that self-sufficiency was “an illusion” because of the sheer scale of the needs. No country, company, or individual can meet them all.

“That’s why diversification should be the objective to ensure a resilient supply chains and prevent single points of failure.” she stated.

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