Intel to Produce Chips for Automotive Industry to Meet Global Shortage
On top of another $20 billion USD investment the company already made to expand operations.
Earlier last month, industry experts revealed that the global microchip shortage — largely caused by the ongoing Coronavirus pandemic and factory closures — has reached a “crisis point,” American tech giant Intel is stepping up its production, hoping to address the issue.
Following a $20 billion USD investment to scale up its operations, the company is now also planning to produce chips for the automotive industry in order to help automakers meet demands. Speaking to Reuters, Intel CEO Pat Gelsinger says that the brand hopes to begin production within the next six to nine months.
“We’re hoping that some of these things can be alleviated, not requiring a three- or four-year factory build, but maybe six months of new products being certified on some of our existing processes,” he said. “We’ve begun those engagements already with some of the key components suppliers.” While no specific automotive companies have been named, Gelsinger pointed out that the production of those chips could take place in its facilities across Oregon, Arizona and New Mexico or in Israel or Ireland.
The announcement comes following a meeting between Gelsinger and the Biden administration at the White House which focused on addressing the semiconductor shortage. President Joe Biden has revealed plans to push Congress to approve $50 billion USD in funds to aid research and manufacturing in the area.
Elsewhere in related news, Japan will begin releasing water from the Fukushima nuclear plant into the sea in 2023.
