Intel CEO to attend White House meeting on chip supply chain (updated)

US Automotive Manufacturing

05/04/2021 19:59

(Adds context, updates headline)
    By Stephen Nellis
    April 5 (Reuters) - Intel Corp  INTC.O  Chief Executive
Officer Pat Gelsinger will virtually attend a meeting being put
together by President Joe Biden's administration for April 12 to
discuss the semiconductor supply chain issues disrupting U.S.
automotive factories, according to a person familiar with the
matter.
    Reuters previously reported the meeting will include Biden's
national security adviser, Jake Sullivan, and a top economic
aide, Brian Deese, as well as chipmakers and automakers.
 urn:newsml:reuters.com:*:nL1N2LU2U7
    Gelsinger last month said Intel will spend $20 billion to
build two new chip factories in Arizona.  urn:newsml:reuters.com:*:nL1N2LL35U
    A chip shortage has been disrupting U.S. automobile
production since late last year. 
    Ford Motor Co  F.N , which has had to cut production of its
best-selling F-150 because of the shortage, last week said that
it will provide investors an update on the hit to its operating
profit on April 28. The U.S. automaker previously said its
operating profit this year would be reduced by $1 billion to
$2.5 billion. The update to that forecast will be provided when
Ford reports first-quarter results on April 28.  urn:newsml:reuters.com:*:nL1N2LT2WJ
    The Biden administration last week called for $50 billion in
funding to support the U.S. chip industry as part of the
administration's $2 trillion infrastructure plan. In February,
the administration ordered a review of the semiconductor supply
chain to find gaps in U.S. manufacturing capabilities.

 (Reporting by Stephen Nellis in San Francisco
Editing by Chris Reese and Nick Zieminski)
 ((Stephen.Nellis@thomsonreuters.com; (415) 344-4934;))