EU's proposed Chips Act 2.0 aims to strengthen Europe's semiconductor and electronics ecosystem

The article discusses the European Union's proposed Chips Act 2.0, building on the original European Chips Act adopted three years ago. While the initial act enabled funding for semiconductor R&D and production, it did not address all vulnerabilities across Europe's electronics ecosystem. The Global Electronics Association initiated a Call-to-Action to address the offshoring trend of critical electronic parts and components. The proposed Chips Act 2.0 aims to fortify Europe's electronics ecosystem and move Europe closer to reclaiming ownership of its most critical systems by reversing the offshoring trend of critical electronic components.