EU's Ambitious Microchip Goal Under Scrutiny

The European Court of Auditors (ECA) has raised alarms about the EU's lagging position in the global microchip competition. With the ambitious target of securing 20% of the global market share by 2030 now in jeopardy, the ECA highlights significant hurdles including scarce raw materials, soaring energy prices, and escalating geopolitical conflicts.

Challenges Ahead Despite Legislative Efforts

Despite the introduction of the 2022 EU Chips Act designed to revitalize the sector, the ECA remains skeptical about the potential for substantial improvements. "The EU urgently needs a reality check in its strategy for the microchips sector," remarked Annemie Turtelboom, the ECA Member responsible for the audit. She emphasized the rapid evolution of the field and the intense competition, pointing out the considerable gap between current progress and the ambitious 2030 target.

A Call for Accelerated Action

Turtelboom further elaborated on the daunting task ahead, noting that achieving the 20% market share would necessitate a quadrupling of production capacity by 2030—a goal that seems increasingly unattainable at the current pace. This stark assessment serves as a wake-up call for the EU to reassess and intensify its efforts in the microchip sector.