Autonomous Vehicle News
A shortage of semiconductor chips could end up costing the automotive industry up to $110 billion in revenue according to the consulting firm AlixPartners, almost double the prediction made last January, NBC News reports. “The next few weeks should be the worst,” said Dan Hearsch, AlixPartners managing director, who noted that this shortage could last “into next year before things have any chance of clearing up. However, because manufacturers had drastically reduced their orders of parts, including semiconductor chips, they now have to scramble to find resources, especially since many semiconductor manufacturers found alternative customers in the consumer electronics industry. “For a while it felt like a badly written comedy, the size and scale of the things breaking,” Hearsch added. “So, this really is a critical issue for the industry.”© 2021 Newsmax.