Home Technology Gadgets STMicro sees no reason to take part in EU chip alliance

STMicro sees no reason to take part in EU chip alliance

STMicro sees no reason to take part in EU chip alliance

Franco-Italian chipmaker STMicroelectronics sees no reason to join a potential European Union semiconductors alliance, its chief executive said on Tuesday, as the European Commission is seeking to boost Europe’s independence in microchips.

CEO Jean-Marc Chery told BFM Business that the Commission’s initiative is a positive development but added that his firm had no interest in taking part.

Chery said he expects the chip shortage is not about to end. “The imbalance between demand and capacity is such that this will last at least a year,” he said.

STMicro produces a wide range of chips, from low-margin microcontrollers to more sophisticated sensors used in smartphones and autonomous vehicles.

European industry chief Thierry Breton said last month there are now 22 EU member states joining forces in a new alliance to support the local production and development of semiconductors to reduce the bloc’s reliance from foreign suppliers.

The European Commission’s ambition is to double Europe’s market share in global chips and semiconductor production from 10% to 20% by 2030.

FacebookTwitterLinkedin


Must Read

Indian marketers to increase dependence on consumer data: EY Study

‘Brands struggled to break down internal silos, activate data and build right skillsets to drive ROI’. Some 82% of Indian brands who participated in...

Amazon Freedom sale: Top offers on printers from HP, Epson, Canon and others with up to 22% discount

Amazon has kickstarted its five-day long ‘Great Freedom’ sale. The e-commerce giant is offering discounts of up to 70% on a range of electronics...

Vivo Y12G Launched In India, Know The Price And Specifications Of The Phone

स्मार्टफोन कंपी Vivo ने आज भारत में अपना बजट स्मार्टफोन Vivo Y12G लॉन्च कर दिया है. फोन को एक...

Gold gleams, silver struggles – The Hindu

Precious metals remained broadly range bound in July. After a distinctly weak performance in June, Comex gold managed to close in the green. The...

Going on vacation? Here’s how you can set automatic an out-of-office message in Gmail

If you are planning to travel anytime soon and don’t want to be bothered by emails then you should make use of Gmail’s vacation...
STMicro sees no reason to take part in EU chip alliance