Hyperdrive
BMW Signs Long-Term Chip Deal After Global Shortage Hits Output
- Firm strikes agreement with suppliers Inova, Globalfoundries
- Automaker secures several million semiconductors per year
A cutaway reveals the electronic systems of a BMW iX electric SUV at the IAA Munich Motor Show in Munich, Germany, in September.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
BMW AG signed a long-term deal to secure semiconductors for in-car lighting systems after a global shortage of the components led to shutdowns at some of its factories.
The automaker said Wednesday it signed an agreement with Inova Semiconductors and Globalfoundries Inc., guaranteeing the supply of “several million” chips per year. The components will provide controls for ambient lighting systems that will first be used in the BMW iX electric sport-utility vehicle.