Historically, chip demand – such as for computers in the 1980s, cellphones in the 2000s and smartphones in the 2010s – would lead manufacturers to aggressively expand capacity.

Chief executive Hidetoshi Shibata said a shortage of supplies of raw materials in Europe and North America was a greater risk than boosting production in Japan

Trimmed version of Congress bill is expected to include $52 billion in subsidies for the industry and tax credits for firms that make semiconductors in the US

The decision to centralize procurement is a sign that chip shortages may persist and are forcing companies to implement more aggressive measures

Nissan projects sales will climb some 18.7% in this fiscal year, but operating profit will remain flat as higher costs erode margins.

Lucid Group CEO says the company is diversifying its chip suppliers to reduce the risk of supply disruptions as covid lockdowns continue to shutter China's factories.

The factory in the city of Suzuka will also slash its production by half for the month of April, expanding the scale of the cutback

Some 1.15 trillion computer chips were sold, with 34% growth in auto-grade chips that can withstand heat and other challenges. Industry body expects 8.8% growth in 2022