Germany wants to end Europe’s semiconductor dependence on Asia. Does it depend on the challenge?
From use in electric cars and smartphones to wind turbines and even missiles, electronic chips – or semiconductors – are the “oil of the 21st century” components on which “everything else depends”.
These were the words of Germany’s Chancellor, Olaf Scholz, at the opening of a new factory built by German semiconductor maker Infineon earlier this month.
On a visit to Seoul late last week, he again spoke to his Korean counterparts about semiconductors, calling on South Korea to invest in Europe to strengthen supply chains.
The EU’s stated aim is to reach 20 percent of the world market by 2030, double its share today. Achieving this target would require a four-fold increase in production on the Old Continent.