News Snapshot:
How will 'chipageddon' affect you? Volkswagen, Honda, Toyota and General Motors have all had to reduce production as a result of the shortage. The shortage emerged because car companies cancelled their orders when demand slumped due to the Covid-19 pandemic last year. Chip-makers switched to selling their products to other industries with greater demand, and the automakers couldn't retrieve their cancelled orders when demand grew again. In January, TSMC said it would prioritise production of chips for the motor industry, in an effort to ease the shortage. Because of strong demand globally, the shortage has spread to a number of...
