EU chip plan would cost €500bn, says NXP CEO

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Oct. 04, 2022 – 

By David Manners, ElectronicsWeekly (October 4, 2022)

The EU will need ten times more than its budget if it wants to get 20% of the world chip market by 2030, Kurt Sievers, CEO of NXP, told the Globalfoundries’ Technical Summit in Dresden.

The EU has put forward a $52 billion Chips Act to hike European market share from 10% to 20%.

“We have calculated that we would need €500 billion investment in Europe to reach the 20% market share goal formulated in the EU Chips Act,” said Sievers , “reaching 20% world market share coming from 10% requires tripling or quadrupling our capacities.”

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