Global Foundries and General Motors signed a deal for an exclusive US semiconductor production

Global Foundries, a multinational semiconductor manufacturing and design company, has signed a long-term agreement with General Motors to produce exclusive US semiconductors. The deal was made to ensure a resilient supply of critical technology to meet General Motors’ demand. Semiconductor chips are essential for new vehicle parts, such as power steering, brakes, infotainment systems, and security systems. Depending on the features provided by a vehicle, there can be hundreds of semiconductors in a single vehicle. The deal is well-aligned with the Biden administration’s push for companies to re-establish production of American semiconductor chips, as per the CHIPS and Science Act of 2022.