Transcript
A (0:00)
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B (0:57)
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C (1:27)
A feared chip shortage in the auto industry looks to have been averted, at least for now. Live from the uk, this is the Marketplace Morning report from the BBC World Service. I'm William Lee Adams.
B (1:37)
Good morning.
C (1:39)
China has lifted export controls on computer chips that are vital to car production. Carmakers Volvo, vw, Ford and Honda had all warned they could face severe supply chain disruption if the ban wasn't overturned. China has also paused an export ban to the US of some materials that are crucial in the semiconductor industry and suspended port fees for American ships. The moves mark an easing of trade tensions between Beijing in Washington after Presidents Xi Jinping and Donald Trump agreed in October to reduce tariffs on each other and pause other measures. For a year. The Chinese government had been blocking the export of finished chips in a row with the Dutch government after they took control of Nexperia, citing concerns over its Chinese owner. David Bailey is a professor at Birmingham University's business school in the UK and a motor industry specialist.
D (2:26)
China clearly has control over the supply of finished chips from China. And Remember, this company, Nextperia, makes huge numbers of these 100 billion each year. They are not the most advanced chips, but they go into everything. It's literally chips with everything when it comes to the auto industry these days. And the firm represents something like 50% of the supply used by the European auto industry. So China's in a position where it can turn this on and turn this off. I think Honda already shut down a plant in Mexico. Given the lack of chips. VW said it was literally a few days away from running out. So whether this is fast enough to get the chips to Europe to keep Ford production going is not clear at this point. It may be that there is some slowdown or companies focus on the most profitable models, for example, which is what we saw last time. So hopefully it will minimize the disruption. But there may still be some disruption for the EU auto industry, given that China turned this off and now has turned it back on again.