White House to zero in on chip shortage in meeting with company officials

Senior White House officials will meet on Monday with top executives from nearly 20 major companies to discuss a global semiconductor shortage that has roiled the automotive industry and technology firms.

At least 19 major companies had agreed to send executives in the meeting, including General Motors Chief Executive Mary Barra, Ford Motor Chief Executive Jim Farley and Chrysler-parent Stellantis NV CEO Carlos Tavares. (Bloomberg)
At least 19 major companies had agreed to send executives in the meeting, including General Motors Chief Executive Mary Barra, Ford Motor Chief Executive Jim Farley and Chrysler-parent Stellantis NV CEO Carlos Tavares.

The White House meeting is billed as the "CEO Summit on Semiconductor and Supply Chain Resilience" and will include White House national security adviser Jake Sullivan and National Economic Council Director Brian Deese.

As of midday Friday, 19 major companies had agreed to send executives, including General Motors Chief Executive Mary Barra, Ford Motor Chief Executive Jim Farley and Chrysler-parent Stellantis NV CEO Carlos Tavares.

Also check these Vehicles

Find more Cars
White Carbon Motors O3 (HT Auto photo)
₹55,900***Ex-showroom price
Add to compare
Check latest offers
White Carbon Motors Gt5 (HT Auto photo)
₹1.15 Lakhs***Ex-showroom price
Add to compare
Check latest offers
Emotorad T-rex (HT Auto photo)
₹44,999***Ex-showroom price
Add to compare
Check latest offers
Komaki Xone (HT Auto photo)
₹45,000***Ex-showroom price
Add to compare
Check latest offers
Bounce Infinity E1 (HT Auto photo)
₹ 45,099 - 80,000**Ex-showroom price
Add to compare
Check latest offers
Kabira Mobility Kollegio (HT Auto photo)
₹ 45,990 - 53,990**Ex-showroom price
Add to compare
Check latest offers

Deese said in a statement the "summit reflects the urgent need to strengthen critical supply chains."

Commerce Secretary Gina Raimondo will also take part, as well as executives from GlobalFoundries, PACCAR, NXP and Taiwan Semiconductor Manufacturing Company, AT&T, Samsung, Google-parent Alphabet, Dell Technologies, Intel Corp, Medtronic, Northrop Grumman, HP, Cummins and Micron.

A US auto industry group this week urged the government to help and warned that a global semiconductor shortage could result in 1.28 million fewer vehicles built this year and disrupt production for another six months.

Over the weekend, GM canceled more truck production shifts at two US plants.

"Trying to address supply chains on a crisis-by-crisis basis creates critical national security vulnerabilities," Sullivan said in a statement.

Automakers have been hit particularly hard by the global chip shortage after many canceled orders when auto plants were idled during the coronavirus pandemic.

When they were ready to recommence production, they found that chipmakers were busy fulfilling orders for the consumer electronics industry which has seen demand for premium devices - both for work and leisure - boom as people spent more time at home.

Broadband internet, cellphone and cable TV companies also face delays in receiving "network switches, routers, and servers... Shortages in semiconductors and the associated delays will result in hundreds of millions of dollars in impact to the broadband and cable television industry this year," an industry group said this week.

President Joe Biden wants at least $100 billion to boost US semiconductor production and fund investments to support production of critical goods, but officials said this funding will not address short-term chip needs.

Later this week the Senate Commerce Committee will hold its first hearing on a bipartisan measure to bolster technology research and development efforts in a bid to address Chinese competition.

First Published Date: 12 Apr 2021, 20:30 PM IST
Recommended for you
View all
NEXT ARTICLE BEGINS
Shopping Bag Shop Now
55% OFF
SOFTSPUN Microfiber Cloth - 4 pcs - 40x40 cms - 340 GSM Grey- Thick Lint & Streak-Free Multipurpose Cloths - Automotive Microfibre Towels for Car Bike Cleaning Polishing Washing & Detailing…
Rs. 269 Rs. 604
19% OFF
Involve Your Senses One Musk Organic Car Perfume, Involve Your Senses Strong Fiber Air Freshener to Freshen'up Your Car - IONE01-40 g,Car Accessories interior car perfumes and fresheners
Rs. 324 Rs. 399
73% OFF
pTron Bullet Pro 36W PD Quick Charger, 3 Port Fast Car Charger Adapter - Compatible with All Smartphones & Tablets (Black)
Rs. 349 Rs. 1,289
13% OFF
Jopasu Car Duster
Rs. 755 Rs. 869

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city