According to a letter obtained by Reuters, major automakers and industry suppliers asked Congress on Wednesday to act promptly and approve $52 billion in subsidies for American semiconductor manufacturing.
The electronics and automotive industries have been negatively impacted by a continuous chip scarcity, which has forced several companies to reduce production.
Chief executives of General Motors, Ford, Stellantis, Rivian Automotive, and senior U.S. leaders of Toyota, Honda, Hyundai, Volkswagen, Mercedes Benz, BMW, and Nissan urged Congress to act quickly in the letter.
“If the U.S. is to remain a leader in automotive innovation, we must make the strategic, forward-looking investments today necessary to enhance the capacity and resilience of our domestic and regional semiconductor supply chains,” the letter said.
The financing includes $2 billion to encourage the manufacturing of “mature node” semiconductors, which are employed in the automotive industry as well as in various applications related to national defense, medical technology, and agricultural machinery.
On Tuesday, congressional leaders attempted to reach a consensus. Senate Majority Leader Chuck Schumer and House Speaker Nancy Pelosi urged quick action and asserted that they saw no justification for the bill not passing Congress in July.
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