Intel to invest €80 billion to increase chip output in EU

Tuesday, 07. September 2021 19:23

Intel Corp. announced on Tuesday the company plans to invest €80 billion over the next 10 years to increase the production of semiconductor chips in the European Union.

"Total project of €80 billion euros over the next decade would be a catalyst for the semiconductor industry... a catalyst for the entire technology industry," Intel CEO Pat Gelsinger stressed while speaking at Munich's IAA car show.

Intel confirmed it is considering establishing a plant in Ireland that would manufacture car chips, while noting it's discussing options for additional production sites in Germany, France and Poland.

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Breaking the News / ND