Recently, the European Chip Act, which has lasted for a year, has made progress. On January 24, the Industry and Energy Committee of the European Parliament voted to approve the draft "European Chip Act" and the legislative report of the amendment.

It is reported that the amendment requires the EU to launch "chip diplomacy" and cooperate with strategic partners such as Taiwan, the United States, Japan, and South Korea to ensure the security of the supply chain. At the same time, the meeting also adopted a joint initiative on chips to increase investment in the development of such a European ecosystem.

In recent years, the shortage of chips has brought huge challenges to the development of Europe's dominant industries - automobiles and other high-end manufacturing industries. However, the shortage of chips, especially in automobiles, has not been effectively alleviated. For example, Volvo's plant in Ghent, Belgium, announced on January 20 that it would suspend operations for a week due to chip shortages.

To this end, the EU has regarded chips as an important strategic material, and has begun to consider strengthening supply chain autonomy, and has invested more than 45 billion euros in public and private funds to support the EU's chip development, manufacturing, pilot projects and start-ups to achieve Europe's share of the global semiconductor market can increase from less than 10% currently to 20%, and reduce chip dependence on the United States and Asia.