Intel Corp said it could invest around EUR80bn ($94.77bn) in Europe over the next ten years to increase the region’s chipmaking capacity, according to reports. The chipmaker also said it would open its semiconductor plant in Ireland for automakers.
The company would announce the locations of the two chip manufacturing plants in Europe, by the end of this year, said Intel’s CEO Pat Gelsinger.
Germany and France are leading contenders for the Intel production site with Poland also in the race.
The EUR80bn project could be a catalyst for the semiconductor and global technology industry, added Gelsinger.
Intel, the biggest chip processor for PCs, said in March, it planned to open its factories for outsiders to use.
The Intel Foundry Services Accelerator targets to help auto manufacturers understand chipmaking using the company’s Intel 16, chipmaking technology and later move on to the Intel 3 and Intel 18A technologies.
The company said, around 100 auto manufacturers, including BMW, Volkswagen and Daimler expressed interest for its programmes.
Previously, in 2019, chips made up around 4pc cost of cars, this could increase to 20pc in 2030, said Gelsinger.