UK unveils £1 bn semiconductor strategy | Inquirer Business

UK unveils £1 bn semiconductor strategy

/ 08:49 AM May 19, 2023

LONDON -The British government on Friday unveiled a new £1 billion semiconductor strategy to invest in infrastructure, research and security as the UK tries to diversify its chip supply chain.

The plan would “safeguard supply chains from disruption and protect tech against national security risks”, the UK government’s department for business, energy and industrial strategy said in a statement.

The investment over the next decade would include up to £200 million ($215 million) between now and 2025.

Article continues after this advertisement

The new 20-year strategy would “boost the UK’s strengths and skills in design, R&D and compound semiconductors, while helping to grow domestic chip firms across the UK”, the department added.

FEATURED STORIES

It comes as European carmaker Stellantis has warned it could close some UK factories should the British government fail to tweak Brexit trade rules to ease the supply of batteries for electric vehicles, for which semiconductor technology is a key part.

https://business.inquirer.net/401343/change-brexit-deal-or-watch-factories-close-carmaker-stellantis-warns

Article continues after this advertisement

Visiting Tokyo Thursday, British Prime Minister Rishi Sunak announced Japanese investment of more than $22 billion into the UK, but accepted carmakers’ concern about Brexit trade rules as he confirmed talks with the European Union.

Article continues after this advertisement

“Semiconductors underpin the devices we use every day and will be crucial to advancing the technologies of tomorrow,” Sunak was quoted as saying in the statement.

“Our new strategy focuses our efforts on where our strengths lie, in areas like research and design, so we can build our competitive edge on the global stage,” he added

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Britain, manufacturing, semiconductor, strategy

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.