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

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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