The plan is financed with funds from the European post-COVID-19 recovery plan. According to the Spanish Minister of Economy Naia Calviño, this is the “most ambitious plan” in the context of the European recovery plan.
Semiconductors today are mainly manufactured in Asia. They are necessary for the production of, among other things, cars, smartphones or medical equipment. Last year, the global market was worth 600 billion euros. But due to high demand and supply chain disruptions, there have been major chip shortages worldwide for a long time. According to the manufacturers, those shortages would continue in 2023 and even 2024.