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German automakers are being hit hard by a semiconductor chip shortage. Suppliers are affected in particular.
The auto industry has been left scrambling for semiconductors as a swift recovery catches their suppliers off guard. Strong demand for iPhones, Galaxy tabs and Playstation consoles from housebound consumers is to blame.
For the first time in three decades, Taiwan outpaced China's economy in 2020. The island's handling of the coronavirus pandemic was the envy of the world, while demand for its semiconductors spurred growth.
The German carmaker, which was expected to resume production on Monday, has cited supply-chain and logistical issues. The virus threatens to halve February car sales in China, the largest market for VW, BMW and Daimler.
The automotive industry is doing well despite COVID-19, while the trade show industry is reeling from the pandemic. At the IAA Mobility in Munich, the two will come together for a fresh start.
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