STM - Auto chip shortage worsens after blackouts and fire sending semi suppliers higher

Earlier today, Nio announced a five-day production suspension at the JAC-NIO manufacturing plant in Hefei due to the global semiconductor shortage. No dropped its Q1 vehicle delivery forecast to 19.5M from the prior 20-20.5M range.The semiconductor shortage was largely due to spiking pandemic-related demand for notebooks, smartphones, game consoles and other consumer electronics. The auto industry faced plunging demand early in the pandemic. Automakers largely cut chip orders and lost their already low priority at semiconductor foundries.The auto industry then rebounded faster than expected, leaving the automakers scrambling for foundry capacity that doesn't exist.Adding capacity take significant time and money even for foundry giant TSMC ([[TSM]] +2.6%). The shortage was also recently worsened by a weather-related blackout in Austin, Texas, and a fire at a fab of auto chip giant Renesas ([[RNECF]],[[RNECY]]).Last month, Austin authorities asked the local foundry of Samsung ([[SSNNF]],[[SSNLF]]) and fabs of chip suppliers NXP Semiconductors ([[NXPI]] +1.1%) and

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Auto chip shortage worsens after blackouts and fire, sending semi suppliers higher