White House convening summit with top execs on chip shortage  

A White House summit Monday on a global semiconductor chip shortage that has roiled the global automotive industry will include senior executives from more than a dozen major companies including key chip manufacturers, a senior official said Friday.

Reuters reported earlier the summit is expected to include General Motors Chief Executive Mary Barra and Ford Motor Chief Executive Jim Farley.

The White House official confirmed the three largest U.S. automakers, including Chrysler-parent Stellantis NV will attend, as will executives from Global Foundries, PACCAR, NXP and Taiwan Semiconductor Manufacturing Company.

The White House meeting will include White House National Security Advisor Jake Sullivan and National Economic Council Director Brian Deese to discuss “steps to strengthen the resilience of American supply chains for semiconductors and other key areas.”

Commerce Secretary Gina Raimondo will also take part.

A U.S. auto industry group this week urged the U.S. government to help and warned that a global semiconductor shortage could result in 1.28 million fewer vehicles built this year and disrupt production for another six months. Reuters