Connected Car
The current global shortage of semiconductors is on track to cost the world’s automakers $110bn in revenue this year, almost twice previous estimates. Consultants at Alix Partners said that 3.9m fewer vehicles would be manufactured in 2021 as a result of the shortfall, weighing on car firms’ earnings. Read more: What’s causing the current global shortage of semiconductor chips? One by one the world’s car giants have come out to warn that the shortage, caused by a surge in demand for the chips, would hit their production plans. The average car contains 1,400 of the chips, but this figure can be three times higher for electric vehicles.