A European Union proposal to increase microchip production could unleash tens of billions of dollars in funding for research and new production facilities
BRUSSELS—, part of the bloc’s economywide effort to boost its commercial independence.
The European Commission, the EU’s executive arm, introduced legislation Tuesday to make available about $49 billion in public and private funding for the chip-making industry. The proposal would also give the Commission power, under some circumstances, to demand that companies give priority to specific products where there is a shortage.
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