The European Court of Auditors (ECA) released a report expressing significant doubt about the EU's ability to achieve its goal of a 20% share of the global microchip market by 2030. Despite acknowledging reasonable progress in implementing the European Chips Act, the ECA highlights a substantial gap between ambition and reality.
Annemie Turtelboom, president of the ECA's chamber, emphasizes the need for a realistic assessment and adaptation of the EU's long-term strategy. The report underscores that achieving the 20% market share would necessitate a four-fold increase in production capacity by 2030, a feat deemed highly improbable at the current pace.
The ECA recommends a thorough review of the EU's microchip strategy, incorporating necessary adjustments to address the identified shortcomings. This includes enhanced coordination among member states and a realistic assessment of funding needs, considering the investments by global competitors. The report highlights that this is not merely an economic matter, but an existential one for the EU.