In the so-called "Chip for Europe" initiative, all kinds of resources will be directed in the same direction, the European Commission hopes.

EUR 15 billion - just over SEK 150 billion - will be made available to strengthen ongoing research and development.

"Chips are necessary in almost all products, but at the same time the pandemic has shown the vulnerability of the global supply chain," said Commission President Ursula von der Leyen at a brief press conference in Brussels.

- In the short term, this will increase our resilience to future crises by enabling us to occur and avoid shortages.

And if we look at the medium term, it helps to make Europe an industrial leader in this strategic market, says von der Leyen.

No conversion without chip

In total, the European Commission hopes to raise EUR 43 billion from public and private funds in the coming years.

"Our goal is high: we will double our global market share to 20 percent by 2030 and manufacture Europe's most sophisticated and energy-efficient semiconductors," said Internal Market Commissioner Thierry Breton in a press release.

- There can be no digital or green conversion without a chip, states in turn digital responsible commissioner Margrethe Vestager.

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Why are more semiconductors not manufactured and what are the consequences of the lack?

Hear SVT's tech correspondent tell.

Photo: Storyblocks / SVT