In the next decades, Europe's downstream industries will need both high-performance processors in smaller structure sizes and power semiconductors, sensors or microelectromechanical systems (MEMS) in more mature structure sizes. The demand for power semiconductors by itself will triple by 2030. This is why the European Commission already announced the European Chips Act last year. Commissioner Thierry Breton explained that the EU aims to increase the capacity of semiconductors in the range of 5 nanometres (nm) and below. This strategy is intended to counteract the decline in Europe's share of global semiconductor production from 22 per cent in 1998 to 8 per cent today. This paper shows how the ZVEI assesses the EU Chips Act and which measures it considers important to strengthen technological competence in Europe.