Europe to incentivise governments to buy EU-made chips by startups

BRUSSELS: The European Commission wants governments to buy chips made by EU startups as it seeks to reduce Europe’s reliance on U.S. and East Asian products, a document seen by Reuters shows.

The proposal, dubbed Chips Act 2.0, supplements the original ‌Chips Act ⁠implemented three ⁠years ago, which has so far failed to achieve its goals to attract advanced manufacturing in a bid to double the bloc’s global chip market share to 20% by 2030.