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Wednesday, 22 June 2022 15:13

Auto Industry CEOs Urge Congress to Quickly Pass Chips Funding

Written by David Shepardson, Reuters

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Major automakers and industry suppliers on June 22 urged Congress to move quickly to pass $52 billion in subsidies for U.S. semiconductor production, according to a letter seen by Reuters.

A persistent shortage of chips has disrupted the automotive and electronics industries, forcing some firms to scale back production.

 

The chief executives of General Motors, Ford Motor, Chrysler-parent Stellantis, Rivian Automotive, Magna International, NXP Semiconductors and senior U.S. leaders of Toyota Motor, Honda Motor, Hyundai Motor, Volkswagen, Mercedes-Benz, BMW and Nissan urged Congress to act soon.

 

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