Auto 2.0 Brings Electrification And High Technology Capabilities, Once The Supply Chain Catches Up

A recent analysis conducted by Goldman Sachs estimated that at least 169 separate industries have been impacted by the global shortage of microchips ranging from consumer electronics to automobiles.  Although the automotive industry is seeing short-term disruptions, expect automotive manufacturers to push full steam ahead with plans for electrification and bringing high-technology capabilities to near and mid-term models.

Few industries have been impacted as severely by the global microchip shortage as the automotive industry, which is expected to sell four million fewer vehicles in 2021, resulting in an estimated $110 billion in missed sales for the automotive industry worldwide.  While some industries have been hampered by increased demand for their products and decreased supply of microchips, automotive companies are facing the consequences of drastically cutting orders for microchips as the COVID-19 pandemic took hold over a year ago, expecting an uncertain