On July 11th local time, the European Parliament passed a plan to ensure the supply of electronic components in the EU by promoting production and innovation, and formulated emergency measures to address the shortage of electronic components.
This legislation will support projects that promote EU supply security by attracting investment and improving production capacity. In the talks with representatives of the Council, members of the Member of the European Parliament won 3.3 billion euros for research and innovation related to electronic components. A network of competency centers will be established to address the skills shortage in the EU and attract new research, design, and production talents.
In addition, a crisis response mechanism will be established through which the European Commission will assess the risks faced by the EU semiconductor supply. The warning indicators of member states will be used to trigger shortage alerts across the EU. This mechanism will enable the European Commission to implement emergency measures, such as prioritizing the supply of products particularly affected by shortages or conducting joint procurement for member states.