Kimberly Redmond | |

Renesas Electronics Corporation, a key automotive semiconductor supplier, said one of its plants in northeastern Japan damaged by a fire in March will be running at full capacity by the end of May.

On Monday, Renesas said it restarted partial production over the weekend at the Naka plant and will gradually ramp back up to 100% output by the end of May and should reach its previous shipping volumes by early July.

Reuters | |

U.S. President Joe Biden met with executives from major companies on Monday to discuss the global chip shortage that has hit automakers and spurred Intel Corp to announce it plans to make chips for car plants at its factories in the next six to nine months.

During the meeting, Biden said he had bipartisan support for legislation to fund the semiconductor industry. He previously announced plans to invest $50 billion in semiconductor manufacturing and research as part of his drive to rebuild U.S. manufacturing under a $2 trillion infrastructure plan.

Kimberly Redmond | |

Renesas Electronics Corporation (OTC US: RNECY), a key automotive semiconductor supplier, said it will take a least a month to get one of its plants in northeastern Japan back online following a fire last week.

According to Tokyo-based Renesas, the fire broke out around 2:47 a.m. on March 19 after some equipment overheated in one of the buildings at its Naka factory in Hitachinaka and destroyed 11 semiconductor manufacturing machines, about 2% of the plant’s manufacturing equipment.

Reuters | |

Chipmakers like Samsung Electronics Co Ltd will need a couple of weeks to resume production in Texas after shutdowns caused by severe weather, and customers could face knock-on effects in several months’ time, a representative of a trade body said.

Samsung, NXP Semiconductors NV and Infineon Technologies AG were ordered to shut factories in Texas last month after a winter storm killed at least 21 people and left milli...

Reuters | |

President Joe Biden will sign an executive order on Wednesday aimed at addressing a global semiconductor chip shortage that has forced U.S. automakers and other manufacturers to cut production and alarmed the White House and members of Congress, administration officials said.

The scarcity, exacerbated by the pandemic, will be the subject when Biden meets a bipartisan group of U.S. lawmakers on Wednesday to discuss the issue.

Brian Wallace | |

The pandemic has fundamentally changed the way we drive as well as migration patterns around the globe, which have led the way to significant insurance givebacks in the US.  In addition to this, the rise of mainstream autonomous vehicles will surely change the way auto insurance will be calculated - but how? Check out this deep dive visual for more: