EU parliamentarians in favor of strengthening the semiconductor industry

Saxon MEP Oliver Schenk (EPP), together with more than 50 other parliamentarians, is campaigning for an update of the European Chips Act. In a letter to EU Commissioner Henna Virkkunen, they call for targeted investment in AI chips and high-performance semiconductors. Europe's technological sovereignty must be secured and the competitiveness of the semiconductor industry must be strengthened.

Europe needs a long-term strategy for high technologies

"We are in a global race for the key technologies of the future. Europe must not fall behind - we must act now," emphasized CDU politician Schenk, who previously headed the Saxon State Chancellery. A long-term strategy is needed to establish Europe as a leading location for high technology and to secure innovation, jobs and prosperity.

Schenk calls for "Chips Act 2.0"

According to Schenk, geopolitical developments have shown that Europe cannot rely on global supply chains. "Semiconductors are at the heart of modern technologies - from artificial intelligence to renewable energies and defense systems. Without a strong European semiconductor industry, we risk our economic and security independence." The "Chips Act 2.0" is therefore the
logical next step to secure Europe's technological future.

With the "European Chips Act", the EU aims to generate around 45 billion euros for European microelectronics by 2030. Research and pilot projects should benefit from this as much as start-ups. The construction of so-called megafabs for the production of microchips is also planned. The aim is to double Europe's current ten percent share of the global market. The European chip law is also expected to generate additional public and private investment of more than 15 billion euros.