Consumers have stocked up on laptops, gaming consoles and other electronic products during the pandemic, leading to tight chip supplies. The Detroit automaker had previously extended production cuts at three North American plants into mid-March and said vehicles at two other plants would only be partially built. Following Wednesday’s cuts, forecasting firm AutoForecast Solutions estimated GM could lose more than 216,000 units globally due to the shortage. Industry officials and politicians have pushed U.S. President Joe Biden’s administration to take a more active role in dealing with the chip shortage. Complicating matters was a severe winter storm in Texas last month that killed at least 21 people and led to the shutdown of several chip plants.

Source: Standard Digital March 03, 2021 17:37 UTC