US Needs Major Semiconductor Investment to Meet EV Goals
Nov. 30, 2021—U.S. Commerce Secretary Gina Raimondo on Monday said the country won't meet its widespread EV adoption goals without significant investment in semiconductor chip infrastructure.
During a news conference in Detroit, Sec. Raimondo urged Congress to pass a $52 billion subsidies package to support domestic semiconductor research and manufacturing.
“We are wasting time, precious time, every day that the Chips Act isn’t passed and appropriated in Congress," Raimondo said according to the Washington Post. “Electric vehicles require orders of magnitude more chips than internal combustion cars, and different kinds of chips, more sophisticated chips,” she added.
According to data from consulting firm AlixPartners cited in the report, the ongoing semiconductor shortage has cost the auto industry around $210 billion in revenue.