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HomeLatest NewsBrussels allows Spain and 13 countries to invest 8,100 million in microchips

Brussels allows Spain and 13 countries to invest 8,100 million in microchips

Date: March 3, 2024 Time: 18:36:50

The European Commission presented this Thursday a European project of common interest by virtue of which cion. Eph.

These fourteen community partners will invest up to 8,100 million euros in public resources in the development of 68 different projects run by 56 companies, with the hope that they will mobilize another 13,700 million in investments from the private sector.

“Microchips are the backbone of Europe’s industrial competitiveness in the digital world. The green and digital transitions highlighted new advanced technological solutions and that is why research, development and production capacities in Europe must be increased,” he explained at a conference press the vice-president of the Community Executive responsible for Competition and the Digital Agenda, Margrethe Vestager.

New digital and ecological transformation

The aim of these projects is to contribute to digital and ecological transformations by “creating innovative microelectronics and communication solutions” and “developing energy-efficient and resource-saving electronic systems and production methods”.

In the opinion of Brussels, the projects included in this program will help the block to achieve technological progress in “many sectors”, among which 5G and 6G networks, artificial intelligence, quantum computing and autonomous driving of vehicles stand out. The community authorities are also confident that the project, which will be developed for a decade, until 2032, will be able to place its first products on the market from 2025 and create up to 8,700 direct jobs and “many more” indirect ones.

In its analysis, the European Commission assessed that this joint program “will contribute directly” to the achievement of various priority objectives of the EU and that the 68 projects included are “very ambitious” because they intend to “develop technologies that go beyond the currently offered by the market”.

Those of Community Executive Competition also highlighted that the planned investments “carry significant technological and financial risks” and, therefore, “public support is necessary to provide incentives for companies to carry them out.”

In parallel, Brussels concluded that individual aid per company is limited to “necessary and proportionate” so that it does not cause “undue distortions” in the single market, while having “positive side effects throughout Europe.”

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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