Germany, Spain And Other EU Countries Want to Develop Their Own Semiconductor Chips

More than a dozen European countries including France, Germany, and Spain are joining hands to invest in the processor and semiconductor market. The countries are hoping to grow and improve the related fields in data processing to rival the likes of the US and Asia.

At the time of writing, Europe’s share of the global semiconductor market stands at €440 billion, which is only 10%. Europe’s semiconductor market mostly relies on chips that are made overseas, and this came to light during the coronavirus pandemic.

The countries have also raised security concerns regarding foreign governments. This is one of the reasons why the countries have formed an alliance to reduce their reliance on foreign technologies for chips that are required for different products. These products include cars, mobile phones, medical care equipment, networking, and more.

Earlier this year, the European Union announced the allocation of €145 billion towards this development. This figure equals a fifth of its virus economic recovery fund for digital projects.

The group will reach out to different companies to form an industrial alliance for the purpose of research and investment on future projects for the development of processors. They will also be seeking further funding for these projects with the goal of increasing Europe’s value and presence in the global semiconductor market.

The post Germany, Spain And Other EU Countries Want to Develop Their Own Semiconductor Chips appeared first on .