The shortage of chips in the global market could soon be over. Representatives of several Taiwanese chip manufacturers are discussing the possibility of investing in Europe. This would greatly help the European automotive sector.
Chip manufacturing debates
Talks between the Taiwanese government and European Union leaders on investing in chip production in Europe began in June this year. Since then, negotiations have been taking place between specific countries and companies. “As far as I know, the European Commission and the twenty-seven member states are negotiating with some of our companies that are willing to invest in Europe,” Taiwan’s deputy economy minister told reporters.
Good news for the automotive industry
However, he did not give the names of specific companies. “From the government’s perspective, we are pleased that our chipmakers are negotiating with our democratic partners, with whom we share common values,” he added. The ongoing talks are good news for the European car industry, which has been suffering from a chip shortage for several years. The situation has escalated during the coronavirus pandemic, when global supply chains have been disrupted. “It is very valuable to us that Taiwanese companies are heading to Europe,” said Filip Grzegorzewski, who is the EU’s de facto ambassador to Taiwan.
