Europe's new policy aims at robust chip output

We need to radically raise Europe's game on the development, production and use of this key technology. There is no digital without chips. The European need for chips will double in the next decade - Ursula von der Leyen, European Commission President

New Delhi: European Commission President Ursula von der Leyen on Thursday announced a new policy to support a massive expansion of chip production in the European Union and said the European need for chips will double in the next decade.

In a special address at the World Economic Forum's online Davos Agenda 2022 summit, she also expressed concern over the Russia-Ukraine situation and hoped that there is no attack by the swelling Russian troops on the Ukrainian border. "We hope an attack will not happen, but if it does, we are prepared. And what I want us never to forget is the following -- Russia and Europe share geography, culture and history. We also want a common future," she said.

On semiconductors, she said, "We need to radically raise Europe's game on the development, production and use of this key technology." "There is no digital without chips. The European need for chips will double in the next decade," she added. The European Commission President said Europe's global semiconductor market share is only 10 per cent and most of its supply comes from a handful of producers outside the continent. "This is a dependency and uncertainty we simply cannot afford... We have no time to lose. And this is why I announce here today that we will propose our European Chips Act in early February," she added.