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More Posts on Chip Shortage
The two companies said in a joint release that their "strategic collaboration," would expand chip supply for Ford's current vehicle lineup and entail joint research and development to address the semiconductor needs of the U.S. automotive industry more broadly.
Japan-based Nintendo is cutting its sales forecast for the Nintendo Switch by 1.5 million units.
In a forecast released Sept. 23, firm AlixPartners estimated that the shortage will cost the auto industry $210 billion globally in lost revenue in 2021.
Musk's remarks follow comments made earlier in the week by General Motors President Mark Reuss, who said he expects the global supply of chips to stabilize but at lower levels than automakers need to rebuild their inventories.
The forecast, released Sept. 23, estimates that the shortage will cost the auto industry $210 billion globally in lost revenue in 2021.