After spending much of 2021 trying to source the semiconductors that they need to be able to make their final product, the world’s manufacturers may be starting to see a glimmer of hope and potential light at the end of the proverbial chip shortage tunnel. And while the relief won’t come overnight, the fact that Sony and Taiwan Semiconductor Manufacturing Co. (TSMC) are in the planning stages of a new semiconductor plant in Japan may be a positive sign.
The plant can’t come to fruition soon enough. According to The New York Times, companies like Toyota continue to cut production in an effort to offset the global semiconductor shortage. The automaker recently cut upcoming production targets by up to 15% and others are struggling to keep up with “rebounding demand for their vehicles as pandemic restrictions in the world’s largest auto markets ease and consumers look to make up for lost time,” the publication reports.
