The American technology company Intel says it is working to address a shortage of semiconductor chips affecting the automotive industry. That same day, U.S. President Joe Biden convened CEOs for a virtual summit on the semiconductor supply chain.
"We hope that some of the problems will be mitigated and that instead of three to four years of factory construction, it may take six months to certify new products using some of the processes that we have in place," Intel Chief Executive Pat Gelsinger told Reuters."We have already started working with some of our key component suppliers."
Intel participated in a virtual summit at the White House, where Biden discussed the "bipartisan" nature of strengthening the U.S. semiconductor industry.
President Joe Biden holds a silicon chip as he attends the Semiconductor and Supply Chain Residency CEO Summit in the Roosevelt Room of the White House in Washington, Monday, April 12, 2021.
"This is an issue that has broad support in the United States Congress. We talk about whether we can work together in a bipartisan way."In fact, today I got a letter from 23 senators, members of both parties, and 42 members of the House of Representatives who support Chip for America."
Also attending the White House event were representatives from the parent company of Google, Alphabet, Dell, Ford, General Motors, Northrop Grumman and AT&T. The semiconductor shortage is now affecting the auto industry and other industries.
The semiconductor shortage is considered a national security issue - National Security Adviser Jack Sullivan and National Economic Council Director Brian Dees will also attend the summit.
A global shortage of semiconductors has forced General Motors and Ford to cut production at their North American plants because of a tighter supply of chips. According to Reuters, Intel will open its factories to auto chip companies to help solve problems facing General Motors, Ford and others.
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