European Commission Digital Chief Henna Virkkunen announced on Thursday that the EU is planning a follow-up initiative to its 2023 Chips Act. The new programme aims to strengthen supply chains, close gaps in advanced chipmaking and packaging, and build on Europe’s existing strengths in chip equipment manufacturing. This “Chips Act 2.0” comes amid calls from industry groups and lawmakers for enhanced support, as the original 43 billion euro Chips Act, although it helped prevent further decline in Europe’s chip industry, fell short of its most ambitious targets. A coalition of nine countries is currently developing recommendations for the next phase, expected to be presented to the Commission before summer.
