TSMC promises to fix global auto chip shortage, says it's a 'priority'

Taiwan Semiconductor Manufacturing Company (TSMC) is starting 2021 off well, with news floating around that it will be making chips for Intel in the near future, record products for 2020, an expanded $28 billion spend on advanced chips in 2021 -- and now TSMC will solve global auto chip shortages.

Volkswagen announced last month that it was worried about the low supply of chips coming in from China would disrupt production for the German automaker, while Honda said it would be closing its UK plant temporarily because of global auto chip shortages.

Never fear, TSMC is here!

TSMC CEO CC Wei explained: "The shortage in automotive supply has become more obvious. In TSMC, this is our top priority. The automotive industry needs a lot of semiconductor components... such as mature technology for sensors and power management. We are working with customers to mitigate the shortage impact".

Bernstein analyst Mark Li said: "The world needs advanced silicon and only TSMC has that".

• Read more: TSMC rumored to make Intel 5nm CPUs in 2021, high-end 3nm CPUs in 2022