Ford, GlobalFoundries partners to offset chip supplies shortage

Arab News | Nov 19, 2021 at 2:11 PM
  • RIYADH: US Ford Motor Co. will explore buying chips directly from GlobalFoundries, as a response to a global semiconductor shortage that’s crimped profits and production, Bloomberg reported.
  • This agreement marks one of the first direct tie-ups between a major automaker and a chip producer to result from the semiconductor shortfall.
  • The chip shortage has dented profits at carmakers including Ford, and cost the global auto industry $210 billion in lost production.