2/28, 3:51 AM (Source: TeleTrader)
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Chinese carmakers ask govt to back auto chip industry - report

Major automakers from China have urged the country's government to take measures to support the auto chip production, the Global Times reported on Sunday.

The move is aimed at backing the Asian country's domestic supply chains, the report read, asserting that the "global auto chip supply" is currently "greatly stretched."

Earlier this week, in the United States, President Joe Biden signed an executive order with a similar goal, stressing at that point that the shortage of semiconductors negatively impacts the country's competitiveness in the global market.

Breaking the News / BU