Ford partners with GlobalFoundries to increase chip production
By MYBRANDBOOK
Ford announced that it has entered a partnership with GlobalFoundries to develop more computer chips amid a semiconductor shortage. Officials said the tie-up could eventually result in new chip designs specifically for Ford and an increase in the domestic production and supply of chips for the overall automotive industry.
The companies declined to discuss financial details of the agreement or how much GlobalFoundries will increase supplies to Ford in the near term. This collaboration does not involve cross-ownership between the two companies.
The partnership comes as automakers such as Ford are still battling through a global shortage of semiconductor chips that has sporadically caused plant closures for the past year. It also follows the Biden administration urging companies to onshore manufacturing supply chains, including semiconductor chips.
Ford CEO Jim Farley said, “This agreement is just the beginning, and a key part of our plan to vertically integrate key technologies and capabilities that will differentiate Ford far into the future.”
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