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GM Will Co-Develop Chips With Several Producers to Secure Supply

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Commerce Chief Says Chips Act Must Pass Now
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General Motors Co. President Mark Reuss said Thursday the company will co-develop semiconductors with several producers to make chips that can handle more electronic features in its vehicles, a revamp of strategy that comes as a shortage of these items continues to roil the global auto industry.

GM currently uses a wide assortment of semiconductors in its cars. It now plans to reduce the types of chips it uses to just three families of semiconductors over the next several years. That would reduce the variety of chips GM orders by 95%, making it easier for producers to fulfill the company’s needs and boosting margins, Reuss said at the Barclays Auto Conference.