Chip Production Update

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Update from Newswire Today 6/1/21:

• Auto chip maker Renesas Electronics Corp. says that replacements for fire-damaged equipment arrived last week and that it is now making about 88% of what it made before a fire in March. The company expects to be running at full production by the middle part of June.
• The Renesas fire added even more pressure on the auto industry amid a global semiconductor shortage.
• Renesas is the third-largest maker of automotive chips by revenue and the largest supplier of microcontroller units, although industry insiders say that by itself it is not going to be able to fill the entire hole in the supply chain.
• The chip shortage is expected to last until at least Q3.

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