Automakers may soon get a lot more of the chips they need to get cars for sale.
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Driving the news: Chip giant Taiwan Semiconductor reported its Q2 earnings on Thursday, and with it announced relief was coming for automakers in need of chips.
On a call with analysts, CEO C.C. Wei said its production of micro-controlling units for cars would be up 60% in 2021 compared to last year.
“By taking such actions, we expect the automotive component shortage from semiconductors to be greatly reduced for TSMC customers starting this quarter,” he said.
Taiwan Semiconductor controls a little over half of the chip production market share as measured by dollar value.