London | The European Union has unveiled a plan to funnel €43 billion ($70 billion) into building a domestic semiconductor manufacturing base, as it tries to curb dependence on brittle supply chains.
The plan, which aims to quadruple European chip output by 2030, marks a rupture with Brussels’ usual aversion to spending public money picking winners, as it bids for more autonomy from China, Taiwan and the US.
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Hans van Leeuwen covers British and European politics, economics and business from London. He has worked as a reporter, editor and policy adviser in Sydney, Canberra, Hanoi and London. Connect with Hans on Twitter. Email Hans at hans.vanleeuwen@afr.com
