Intel CEO Pat Gelsinger revealed that the tech giant will spend up to €80 billion over the next decade to build a “mega” chip fab in Europe.
Gelsinger announced the planned investments at his keynote address at the IAA Mobility in Munich. The automotive industry in Europe and the U.S. was negatively affected by the global chip shortage during the pandemic.
Gelsinger said Intel hopes to lay the groundwork for its next “mega fab” or chip fabrication facility in Europe by the end of 2021 and announced that the technology giant will make its semiconductor plant in Ireland available to automakers.
Earlier this year, Intel announced a planned investment of 7 billion euros to double the capacity of its plant in Ireland and is considering bringing its 7nm chip production to the plant.
Gelsinger also wants to support the European Commission’s plan to increase Europe’s share of the global semiconductor supply to 20%. Under the name Digital Compass, the EU wants to become “digitally sovereign” by 2030.
Potential locations for Intel’s mega fab included Germany, the Netherlands, France and Belgium. The company is also seeking EU funding for the initiative.
For more information, read the original story in ZDNet.