Have you heard about the “automotive chip famine” that has crippled vehicle production worldwide?
Pandemic-driven supply chain disruptions are largely to blame for this global shortage of semiconductor chips, which in the auto industry are used for vital components such as safety sensors, brake systems and driver assistance technology as well as batteries for electric vehicles (EVs).
Manufacturers such as General Motors, Ford Motor Company, Toyota Motor Corporation, Volkswagen AG and now Tesla have had to delay or halt production because of chip scarcity, which could last into the third quarter of 2021, according to market analysts.
Considering that many EV manufacturers had plans to ramp up production this year, it will be interesting to see how this crisis impacts the projected growth of the EV market. Here’s a whitepaper from IHS Markit with further insights: http://ow.ly/iXDc50DVLpT
If you’re looking to buy a new EV in this unpredictable market, you might be interested in the helpful shopping tips found on Cars.com: http://ow.ly/GGRO50DVLqZ
