Sunak urged to unlock UK microchip revolution to help Britain ‘conquer the world’

However, while Britain may be relatively strong in areas like design, the limited number of chip manufacturing facilities could be an obstacle. Another issue is that domestic companies have repeatedly been taken over by foreign firms. It will also have the EU and US to compete with as it scrambles to narrow the gap with Asia.

The EU’s Chips Act, for instance, is aimed at ramping up the blocks technological capacity and innovation in the EU Chips ecosystem, targeting to increase its share in global chip production up to 20 percent.

It comes after the pandemic laid bare the risk in relying on Asia imports of the technology, which led to rising costs for industry and higher prices for consumers.

Rapporteur on the Chips Joint Undertaking Eva Maydell said: “Microchips are integral to the EU’s digital and green transitions as well as our geopolitical agenda.

“We are calling for fresh funding that reflects the strategic importance of Europe’s Chips sector. Europe’s partners and competitors are also investing heavily in their semiconductor facilities, skills and innovation. We may not have the enormous financial firepower of the US, but the budget offered by the Commission and Council needs to reflect the seriousness of the challenge”.

Article source: https://www.express.co.uk/news/science/1739234/sunak-microchip-semiconductor-Paragraf-EU-chips-act