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Global chip shortage to continue into 2022

Stellantis is also set to build five new battery plants by 2025 across Europe and North America, as part of a 30 billion euro (NZ$50.6 billion) investment into electrification. Tavares said Stellantis could add more money to that figure if needed, through more battery plants or raising the capacity of the current plants. Supplied Stellantis, which owns the Peugeot brand, is investing heavily into electrification. The crisis, which was compounded by increased demand as Covid-19 halted travel and holiday spending, has forced carmakers around the world into dropping features, delaying shipments and increasing prices. According to Tavares, it takes around 18 months to re-engineer a vehicle to use a different chip because of the sophistication of the technology. Stellantis, and other makers, will prioritise the models with the highest margins with the chips that do come through.

Startup Lordstown Motors says production still on track

Startup Lordstown Motors says production still on track John Seewer Tags:  FILE - This Thursday, June 25, 2020, file photo shows the electric Endurance pickup at Lordstown Motors Corp., in Lordstown, Ohio. Startup electric truck maker Lordstown Motors says its still on track to begin production this fall despite a bumpy past week. Company executives in Ohio said Tuesday, June 15, 2021, that they have enough orders and cash on hand to keep operating through next May. (AP Photo/Tony Dejak, File) (Copyright 2020 The Associated Press. All rights reserved.) TOLEDO, Ohio – Startup electric truck maker Lordstown Motors said Tuesday that it s still on track to begin production this fall despite a management shakeup this week and a warning just days earlier that it may not be in business a year from now.

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