Chipmaker Micron Technology Inc said August 29 it plans to spend $3 billion over the next 12 years to expand a plant in Virginia about 40 miles (64 km) west of Washington, D.C.
Chief Executive Sanjay Mehrotra told Reuters in an interview the expansion aims to meet increasing demand for chips in automobiles, which are gaining more computer power for features such as collision avoidance systems or lane departure warning systems. The company expects that market to double to $6 billion by 2021.
