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STMicroelectronics is not going to participate in the European semiconductor industry development program

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Franco-Italian chip maker STMicroelectronics sees no reason to join a potential European Union alliance for semiconductors. This was announced yesterday by the CEO of the company Jean-Marc Chery (Jean-Marc Chery). He praised the initiative of the European Commission, but added that his company is not interested in participating.

In addition, Sheri commented on the current chip shortage situation.

“The imbalance between demand and production capacity is such that it will last at least a year,” he said.

STMicroelectronics manufactures a wide range of semiconductor products – from a variety of sensors to microcontrollers.

European Commissioner for Internal Market Thierry Breton said last month that 22 EU member states are joining forces in a new alliance to support local production and semiconductor development to reduce the bloc’s dependence on third-party suppliers. The European Commission aims to double Europe’s share of the global semiconductor market from 10% to 20% by 2030.

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