Intel Expects Huge Growth for Auto Chips. It's Building Factories in Europe.

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CEO Pat Gelsinger predicted that the market for car chips will double by 2030. He detailed plans for at least two European facilities.
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Intel Chief Executive Pat Gelsinger predicted that the market for car chips will double to $115 billion in size by 2030 as the company committed to billions more in capital spending to expand its manufacturing capacity in Europe.

Responding to a global shortage for chips of all shapes and sizes, Intel's top boss outlined plans to build at least two European facilities and plans for future expansion valued at as much as €80 billion ($94.5 billion). The factories will make the most advanced semiconductors, helping to tackle the booming demand for chips that power cars, home appliances, and all sorts of consumer gadgets, he said at a Munich auto industry event Tuesday.

Global semiconductor sales rose 29% year over year to $45.4 billion in July, a gain of 2.1% compared with June, according to the Semiconductor Industry Association. The industry has produced and shipped a record quantity of chips in recent months, the industry group said.

Gelsinger was speaking at an auto industry event because…
Max A. Cherney
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