I got no benefit when Ford strategically offshored chip production years ago so why do I have to fund the chip manufacturing return.
Den of thieves describes Farley’s relationship with the government.
Last November, Ford announced that it had formed a strategic alliance with GlobalFoundries Inc. – a global leader in semiconductor manufacturing – which aims to boost chip supplies by advancing semiconductor technology development and manufacturing in the U.S. This is one of several deals Ford plans on making with chipmakers as it aims to secure enough chips to ramp production up to pre-pandemic levels, while FoMoCo CEO Jim Farley believes that this situation will begin to improve as soon as next year. Now, Farley will join the CEOs of GlobalFoundries and Applied Materials as co-hosts of an upcoming summit consisting of senior government officials and other industry executives ahead of the signing of the CHIPS and Science Act.
“With his expected signing of the bipartisan CHIPS and Science Act tomorrow, President Biden is making it clear that government and industry leaders are laying the foundation for the next chapter in American innovation and manufacturing,” Farley said. “A reliable domestic supply of chips, including legacy semiconductors needed in the automotive and defense industries, will keep American manufacturing lines humming, help make sure customers get the connected and electric vehicles they want, and strengthen the American economy and national defense.”
The summit aims to create constructive dialog and discuss how public investment can accelerate the manufacturing of not only semiconductor chips, but also other emerging technology, such as electrified vehicles. The goal of the summit is is to determine the best way to accelerate semiconductor manufacturing, electrification, and economic, supply, and national security in the U.S.
“Semiconductors are the foundation of incredible advances in technology that will transform nearly every area of the economy over the coming decades,” said Gary Di-kerson, President and CEO of Applied Materials. “The CHIPS and Science Act provides a catalyst for the industry to accelerate investments to make our supply chains more robust, speed up innovation and commercialization of next-generation technology, and create thousands of U.S. jobs.”