Both carmakers gained from a plunge in the yen in October last year, even as a shortage of chips and soaring costs of raw materials squeezed global carmakers

The second-largest chipmaker in China after SMIC, Hua Hong will produce 300mm (12-inch) semiconductor wafers at the factory

Nvidia said its technology, which includes chips to process information from sensors in real time, will help Foxconn overcome challenges in ramping up automobile production

Samsung's persistence with investment plans could help it take market share in memory chips and support its share price when demand recovers

The struggling tech firm has reached licensing deals with top carmakers, including European giants like Audi, Porsche, Renault and Lamborghini

Denso's operating earnings of 63.6 billion yen ($473 million) for the three months to June 30 fell short of an average estimate of 81 billion yen

Historically, chip demand – such as for computers in the 1980s, cellphones in the 2000s and smartphones in the 2010s – would lead manufacturers to aggressively expand capacity.

Chief executive Hidetoshi Shibata said a shortage of supplies of raw materials in Europe and North America was a greater risk than boosting production in Japan

Trimmed version of Congress bill is expected to include $52 billion in subsidies for the industry and tax credits for firms that make semiconductors in the US

The decision to centralize procurement is a sign that chip shortages may persist and are forcing companies to implement more aggressive measures

Nissan projects sales will climb some 18.7% in this fiscal year, but operating profit will remain flat as higher costs erode margins.

Lucid Group CEO says the company is diversifying its chip suppliers to reduce the risk of supply disruptions as covid lockdowns continue to shutter China's factories.