Auto parts supplier Aptiv Plc is facing significant semiconductor supply constraints in the third quarter due to the fast-spreading Delta variant of the coronavirus in Southeast Asia, Chief Financial Officer Joseph Massaro said on Friday. "We have had semiconductor suppliers industry wide who have been closed for a couple of weeks at a time. We had one that was closed for a couple of weeks, open for a period of time and then reclosed." Automakers from General Motors to Japan's Toyota have slashed output and sales forecasts due to scarce chip supplies, made worse by a COVID-19 resurgence in key Asian semiconductor production hubs. Aptiv, which makes advanced driver assistance systems and vehicle computers, counts Stellantis NV, Volkswagen AG and General Motors among its customers.- Reuters

Source: The Star September 10, 2021 16:18 UTC