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Global Chip Crisis Estimated To Jeopardize 1.3M Vehicle Production: Bloomberg

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Global Chip Crisis Estimated To Jeopardize 1.3M Vehicle Production: Bloomberg
  • The global chip crisis, which was intensified by the February Texas winter storm, is expected to affect carmaker production by 1.3 million vehicles this quarter, Bloomberg reports based on IHS Markit Ltd (NYSE: INFO).
  • The latest fire at auto-chip maker Renesas Electronics Corp (OTC: RNECF) (OTC: RNECY) can upset the Japanese and U.S. operations for at least a month hampering the industry’s second-quarter output.
  • Semiconductor supply is not expected to even out until the fourth quarter, as per IHS analysts.
  • Samsung Electronics Co Ltd (OTC: SSNLFrecently reported it resumed near normal production levels at the Austin, Texas chip plant. The company also acknowledged a revenue hit along with NXP Semiconductors NV (NASDAQ: NXPI) and Infineon Technologies AG (OTC: IFNNF) (OTC: IFNNY) following its Texas production shutdown due to the February storm.
  • General Motors Co (NYSE: GMrecently extended production cuts at three North American plants and added a fourth to the factories list.
 

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