Intel invests in expansion of production in the EU up to 80 billion euros

Intel on Tuesday announced that it could invest up to 80 billion euros in semiconductor manufacturing in Europe over the next decade and will make its manufacturing facilities in Ireland available to automakers.

Intel CEO Pat Gelsinger, speaking at the IAA Auto Show in Munich, also said the company would have named locations in Europe by the end of the year where two major chip factories would be located.

According to Reuters, factories are most likely to be built in Germany, France or Poland. In April, Gelsinger told the agency that the company wants to start producing chips for automakers within six to nine months to help solve the shortage that has plagued car manufacturing around the world.

Intel views automakers as a key strategic priority. Chips will account for 20% of the cost of vehicles by 2030, five times more than in 2019, Gelsinger said.

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