Chip shortage to cost automakers $110 bln in revenues in 2021
The Hindu
Automakers are now looking at developing direct relationships with semiconductor makers, said Mark Wakefield, co-leader of AlixPartners' global automotive practice
(Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) The global semiconductor chip shortage will cost automakers $110 billion in lost revenues this year, up from a prior estimate of $61 billion, consulting firm Alix Partners said, as it forecast the crisis will hit the production of 3.9 million vehicles. The chip crunch has driven home the need for automakers to be "proactive" right now, and create "supply-chain resiliency" longer term to avoid disruptions in the future, the firm said on Friday.
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