News Snapshot:
The European Union said in March it planned to more than double microchip manufacturing output in the 27-member bloc to 20% of the global market by 2030. The announcement came after a supply crunch disrupted production earlier this year , in particular for German auto manufacturing, the key industry in Europe's most important economy. Chip shortages led to a million fewer cars — 5% of total production — being produced in the first quarter of 2021 as compared with the same period a year earlier, according to market analyst IHS Markit. The bloc's ambitious "Digital Compass" plan is based on...
