Auto Industry Faces Biggest Chip Cost Shock Since Pandemic as Prices Surge

Auto Industry Faces Biggest Chip Cost Shock Since Pandemic as Prices Surge

The global auto industry is facing its most significant semiconductor cost shock since the pandemic-era chip crisis, as AI-driven demand for memory chips sends prices soaring and forces manufacturers from Detroit to Shanghai to scramble for supply. William Li, founder and CEO of Chinese EV maker Nio, said on Wednesday that rising memory prices are adding an estimated 3,000 to 5,000 yuan per vehicle for each affected component category across the…