US Industry Wants Biden To Help End Chip Shortage
A US auto industry group is urging the Biden administration to help it ride out the global semiconductor shortage.
The Alliance for Auto Innovation said that, unless the shortage is resolved quickly, it could result in 1.28 million fewer vehicles built this year and disrupt production for another six months.
The alliance wants the US government to allocate funding for the expansion of US semiconductor production that the auto sector needs.
Last month President Joe Biden ordered several Federal agency actions to address the chip crisis and also seeking US$37 billion in funding for legislation to supercharge chip manufacturing in the US.
The auto group says some of that funding should be used to build new capacity that will support the auto industry and mitigate the risks to the automotive supply chain.
The group represents nearly all major automakers with factories in the US, including GM, Ford, Volkswagen, Toyota and Hyundai.