FT News Briefing Auto industry chip shortage worsens
Aug 20, 2021
The chip shortage crippling major carmakers like Ford and Toyota has worsened due to COVID-19 outbreaks in Southeast Asia, causing significant assembly line disruptions. The ongoing crisis also touches on the complex situation faced by Afghan refugees trying to reach Europe, highlighting stricter border security compared to previous waves. Lastly, a discussion on the longlist for the Business Book of the Year reveals compelling reads on topics like remote work and social justice, showcasing a greater representation of female authors in the business genre.
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Chip Shortage Worsens
- The global chip shortage is worsening due to a COVID-19 surge in Southeast Asia.
- This is impacting carmakers like Ford, GM, and Toyota, causing production halts and cuts.
Automaker Impacts
- Ford will halt F-150 production for a week.
- GM is extending downtime at North American plants, while Toyota will cut global production by 40%.
Toyota's Production Cuts
- Toyota's production cuts are primarily due to COVID-19 outbreaks in Vietnam and Malaysia.
- These countries play key roles in electronics production, impacting Toyota's plants globally, especially in Japan.
