GM nearshoring, still faces chip-related closures

China 2899 Cons. Discr. - Autos 1114 European Union 774 South Korea 548 U.S. 5200

General Motors has announced the closure of their factories in North America due to a shortage of chips, following the same issues from Toyota and Nissan in recent months. This comes even as imports of semiconductors to the U.S. have risen by 51.4% year over year in the second quarter, but likely hides the difficulty of manufacturers who need custom chips for their own designs. The imports, driven by chips, which gained 60.3% year over year in Q2, are likely the height of current manufacturing capacity, and chip makers are incentivized to manufacture more generic items in higher quantiti...

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