The Council’s approval of 25 July 2023 is the last step in the decision-making procedure, following political agreement between the Council and the European Parliament (EP) on 18 April 2023, and approval by the EP on 11 July 2023.
The Chips Act aims to create the conditions for the development of a European industrial base in the field of semiconductors, attract investment, promote research and innovation and prepare Europe for any future chip supply crisis. The programme should mobilise €43 billion in public and private investment (€3.3 billion from the EU budget), with the objective of doubling the EU’s global market share in semiconductors, from 10% now to at least 20% by 2030.
Chips Act: Council gives its final approval – Consilium (europa.eu)