EU plans to quadruple chip production by 2030

The European Parliament on has formally approved an EU plan to boost its own supply of semiconductors, a strategic goal to reduce dependency on Asia.

An overwhelming majority of lawmakers - 587 to 10 - backed the EU Chips Act, which is meant to see European Union chip production quadruple by 2030 to account for 20 percent of the global output.

Globalisation and the rise of Asian manufacturing has seen Europ