Intel to Invest $20 Billion to Alleviate Microchip Shortage for Auto Industry
As both the automotive industry and customers have been affected by the global microchip shortage, resulting in low inventory and high prices for both new and used vehicles, there may be some signs of relief over the horizon.
That is because tech giant Intel announced that they would be investing $20 billion in two chip factories outside of Columbus, Ohio that will employ 3,000 people. It is believed that the complex will be “the largest silicon manufacturing location on the planet.”
The construction of the two complexes serves as a response to many US tech films relying on overseas production of semiconductors while in the middle of a global shortage.
Intel also announced that it will be investing $100 million in nearby colleges for the next ten years to increase education surrounding semiconductors.