The European Commission has approved a €227m Austrian initiative to support ams Osram in constructing a state-of-the-art wafer manufacturing facility in Premstätten. This initiative is a major step toward strengthening Europe’s semiconductor supply chain, enhancing resilience, and advancing technological autonomy. The investment aligns with the European Chips Act, reinforcing Europe’s role in global semiconductor production. Teresa Ribera, Executive Vice-President for Clean, Just and Competitive Transition, stated:“This Austrian project will have wide positive effects on the European semiconductor ecosystem. “It will support the development of a strong and resilient digital economy in Europe, ensure a secure supply of semiconductors for the industry and help create high-skilled employment while limiting any potential distortion of competition.” Strengthening European semiconductor independence Semiconductors power modern technology, from automobiles to industrial equipment and medical devices. Europe has long relied on foreign chip manufacturers, particularly in Asia and the United States. Recent global supply chain disruptions have highlighted Europe’s dependency on semiconductor imports, affecting industries from automotive production to consumer electronics. By investing in local wafer manufacturing, Europe can reduce reliance on …