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ARCHIVED - Tech giant Intel considers Spain for newest headquarters
Top tech companies in Spain and Europe are increasingly concerned about the global supply crisis
With Spain facing into Black Friday and Christmas with the distinct prospect of a shortage of goods and products and the electrical industry as a whole tipped to remain in deep trouble until 2023, tech giant Intel has announced its intention to establish itself in Europe, with Spain throwing its hat into the ring from the off.
A few weeks ago the technology company ruled out setting up a factory in the UK due to Brexit, and now several countries in Europe are anxiously awaiting the decision of where the two new headquarters will be built.
Welcoming Intel would be a huge coup for Spain’s recovering economy; the company is currently the largest seller of integrated circuits in the world and plans to invest 80 billion euros in Europe over the coming decade. In addition, the expansion of the multinational aims to reduce the over-dependence on Asia for semiconductors and other vital raw materials, which has brought many industries to a near standstill in recent months.
According to official sources, Spain will know whether it has been chosen as the new site by the end of 2021, but as the CEO admitted that there are 70 potential locations on the list and that a dozen countries have submitted proposals, the competition is fierce.
Meanwhile, consumers and retailers alike are nervously facing a lean festive period, with several manufacturers such as Apple, Nintendo and Lenovo warning of supply delays. Intel’s CEO, Pat Gelsinger, maintains that the shortage of microchips will definitely hike up prices and result in a scarcity this Christmas and next.
Mr Gelsinger has predicted that there may be “some promissory notes under Christmas trees around the world this year" instead of gifts.
“Everything just falls short at the moment. And even if my colleagues in the industry and myself are working like crazy to catch up, it will take a while [until everything recovers]", he explained, adding that things should improve "gradually" next year, but that they are unlikely to stabilize until 2023.
Image: Archive / Intel
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