June 22, 2022 Press Release

Auto CEOs to Congress: Semiconductor Funding ‘Critical’ to U.S. Competitiveness

In 1990, U.S. produced 40 percent of global semiconductors; now down to 12 percent

 

WASHINGTON, DC – More than 20 CEOs spanning automotive manufacturers, suppliers and innovators today sent a letter to members of Congress negotiating final competition legislation, urging quick passage of a bipartisan bill which includes funds to increase domestic capacity and resilience of semiconductor supply chains ‘critical’ to the future of the auto industry in the U.S.

The CEOs wrote:

“Currently, the auto industry is facing substantial production losses stemming from capacity challenges across the global semiconductor supply chain. Numerous automakers have been forced to halt production and cancel shifts in the United States, with serious consequences for their workers and the communities in which they operate. Further, the intersection of high demand, production constraints and declining inventory has driven up prices for both new and used vehicles. 

“If the U.S. fails to meet this moment and keep pace with international efforts to attract investments in the semiconductor supply chain, it will undermine the competitiveness of all sectors of the economy – including automotive – that rely on semiconductors for both current and future products and services.” 

The letter was signed by leaders of Argo AI; American Honda Motor Co., Inc.; Autoliv ASP, Inc.; BMW of North America, LLC; Bosch in North America; DENSO International America, Inc.; Ford Motor Company; General Motors; HARMAN International; Hyundai Motor Company, Hyundai Motor North America and Hyundai Motor America; Infineon Technologies Americas Corp.; KIA America; Lucid Motors; Magna International Inc.; Mazda North American Operations; Mercedes Benz US International (MBUSI); Nissan Americas; NXP Semiconductors; Panasonic Corporation of North America; Rivian; SiriusXM; Stellantis; Subaru of America, Inc.; Toyota Motor North America; Volkswagen Group of America, Inc.; and Volvo Car USA.

The full CEO letter to Congress can be found here.