BRUSSELS :The European Union may approve state aid to fund new semiconductor production in the bloc, its competition chief said on Thursday, while resisting calls by France and others for a no-holds-barred approach to subsidies.
"The Commission may consider approving public support to fill possible funding gaps in the semiconductor ecosystem for the establishment in particular in Europe of first-of-its-kind facilities," Margrethe Vestager told the European Parliament. The U.S. last year announced its CHIPS for America Act aimed at boosting its ability to compete with Chinese technology, while the EU plans to adopt its own chips act meant to foster state-of-the-art chip production in the bloc in 2022.
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