The European Commission president Ursula von der Leyen has identified the need to boost the production of vital semiconductors in Europe. To address this, the EU has struck an agreement aiming to double the bloc's global market share to 20 percent in 2030. The seriousness of this issue has already been heightened by the Coronavirus pandemic, which caused supply chains for semiconductors to become overloaded and put pressure on European industry. As a result, major semiconductor investments have been announced in Germany by companies such as Bosch, Intel, and Wolfspeed. 

The EU is rushing to lessen its reliance on semiconductors made in Asia, where Taiwan and South Korea are currently the main centres of chip production worldwide. Additionally, the EU is working to guarantee that Europe has access to the essential raw materials needed to produce consumer electronics. 

The proposals to address this issue also includes investing in new semiconductor projects and increasing mass production of semiconductors. Europe must prioritise the production of semiconductors, reduce reliance on those produced in Asia, and strengthen supply chains for semiconductors in order to remain competitive in the industry, the EU chief concluded.