Semiconductors are the foundation of the memory and processor chips found in almost every electronic device. Many recent innovations in vehicle development rely on them. Semiconductors or microchips are more and more present in many areas of modern life.

The global market for semiconductors is growing rapidly again whereas supply is limited. In short: the shortage is the result of the earlier massive cancellation of chip orders by car manufacturers when demand for cars collapsed, mainly due to the covid crisis. As demand for new cars recovered faster than expected, car makers were not first in line as global demand for chips from other sectors had grown in the meantime.