Lucid CEO concerned about chip supplies from China due to COVID-19 -Breaking
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© Reuters. FILE PHOTO – CEO Peter Rawlinson talks to a reporter at Lucid Motors’ Casa Grande plant, Arizona. U.S. Sept. 28, 2021. REUTERS/Caitlin O’HaraBy Hyunjoo Jin
SAN FRANCISCO (Reuters] – Lucid Group Inc chief executive on Wednesday voiced concern about China chip supplies due to COVID-19 related lockdowns. The CEO of Lucid Group Inc added that U.S. startup for electric vehicles is taking steps to reduce the impacts.
Lucid CEO Peter Rawlinson stated that his biggest concern was the Chinese semiconductors and the effects of COVID on those parts of the globe.
Lucid had distributed information about chip supplies to him as mitigation.
China’s Zero COVID (zero COVID) policy has put hundreds of millions in cities across the country under restriction to movement. The most dramatic example being Shanghai. It is causing serious economic damage throughout China.
Shanghai authorities have tightened security measures to stop the spread of COVID-19, putting a halt to factories trying to re-enter full swing.
Tesla (NASDAQ: )’s Shanghai plant ran at half capacity this week because of logistical and supply-line issues.
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