Intel wants to invest EUR 80bn in Europe
Intel announced that it could invest as much as EUR 80 billion in Europe over the next decade to boost chip capacity. Furthermore, CEO Pat Gelsinger said the company would make its semiconductor plant in Ireland available to car manufacturers, during a keynote at IAA Mobility in Munich, Germany.
Gelsinger created even bigger waves with announcing that it would reveal the location of two major new European chip manufacturing facilities by the end of 2021. This will likely complement the USD 7bn investment (announced earlier) to double its operations in Ireland. One of Intel’s rivals is Taiwan Semiconductor Manufacturing Company (TSMC). TSMC has no footprint in Europe (apart from a sales office in The Netherlands) at the moment, but is rumoured to consider building a facility in Germany. Samsung meanwhile has an office in Germany, R&D centres in the UK and Denmark and is also rumoured to consider foundry operations in the EU. And then there is Globalfoundries with a manufacturing base, office and R&D centre in Germany, design centres in France and Bulgaria, as well as a R&D centre Belgium. In June 2021, Globalfoundries announced plans to invest more than USD 1bn to increase capacity at its manufacturing site in Dresden (Germany). (Evertiq reported.) Cost will certainly be another key consideration for Intel. The company has made it clear it will seek financial and political support for its investment, which could potentially mean millions of euros’ worth of subsidies, writes Investment Monitor. Keeping all of this in mind, Germany, France, Belgium - and possibly Poland - have emerged as the most likely of contenders.