The European Union is the latest region to announce plans to increase its self-sufficiency in advanced semiconductor technology while boosting local production. The European Commission (EC) has an ambitious target to double its share of global chip production to 20% by 2030, despite Europe’s chip majors having old-generation foundries. It will need to lure global players, such as TSMC and Intel, to establish advanced factories in the region, while avoiding infringements of EU state aid laws. The EC has identified €43bn of potential public and private investments in the local chip sector and has proposed a European Chips Act to unlock those funds. It claims such investments will make the region more resilient against the kind of supply chain disruptions…