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 INFO.
The latest fire at auto-chip maker Renesas Electronics Corp RNECF 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 SSNLF recently 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 NXPI and Infineon Technologies AG IFNNF IFNNY following its Texas production shutdown due to the February storm.
General Motors Co GM recently extended production cuts at three North American plants and added a fourth to the factories list.