Connected Car
The share of European manufacturers in global production fell from 44% in 1990 to a meagre 9% in 2020, a report by the Semiconductor Industry Association states. The competition in Asia has attracted entrepreneurs from across the globe with low production costs, which have led to a massive exodus of the European semiconductor industry. None of Europe’s three largest semiconductor producers – STM, Infineon, and NXP – currently make it into the global top 10. The decline of Europe’s semiconductor industry is leading to great dependencies on producers in Asia. However, global supply bottlenecks and problems related to supply chains are now leading to widespread production losses in various industries, including the automotive industry.