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Car production in China set to decline by 2 million due to chip shortage: Report

China's state-run Global Times quoting a top official of the machinery industry federation reported that the country's car production would be down by 2 million units due to the shortage of chips.

Global Times while quoting the executive vice president of the federation reported that "software, special raw materials and precision instrumentation" including industrial sensors which rely on imports will also be hit due to "natural calamities and man-made misfortune." ....

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$52B Chip Bill Passes Senate In 'Competition To Win' Against China

$52B Chip Bill Passes Senate In ‘Competition To Win’ Against China
06/09/21 AT 2:39 PM
The Senate has passed a bill that looks to boost the auto industry’s semiconductor chip supply while also taking aim at growing technology competition in China.
The bill, which passed the Senate in a 68-32 vote, provides $52 billion in emergency funding to the Commerce Department for chip development and production through a research and incentive program that was previously authorized by Congress.
The chip allocation comes at a pivotal time as the auto industry struggles with plant shutdowns, delays, and production reductions as it faces supply disruptions due to bottlenecks of semiconductors that have been diverted to tech devices amid the pandemic. ....

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