Taiwan, home to the world’s largest contract chip maker Taiwan Semiconductor Manufacturing Co., and other major tech firms, is at the center of efforts to resolve the shortage.
Taiwanese companies have pledged to ramp up production and the government has urged them to address the problem.
Taiwan Economy Minister Wang Mei-hua will hold a virtual meeting with the United States at the end of this week to discuss supply chains, with semiconductor firms present, her office said last Friday.
Automakers around the world are adjusting assembly lines caused by the shortages and have cut some production, caused by manufacturing delays that some semiconductor makers blame on a faster-than expected recovery from the coronavirus pandemic.
In 2019, automotive groups accounted for roughly a tenth of the $429 billion semiconductor market, according to McKinsey.