Toronto, Ontario — The electric vehicle (EV) industry says that the microchip shortage could cause manufacturing delays that extend for up to a year.
The microchip shortage has impacted companies like Ford and General Motors so much that the automakers are both expecting to lose roughly $2 billion in profits. Elon Musk says that Tesla is also feeling the weight of the shortage.
“Our biggest challenge is supply chain, especially microcontroller chips. Never seen anything like it. Fear of running out is causing every company to overorder – like the toilet paper shortage, but at epic scale,” said Musk. (SOURCE Electric Autonomy Canada)
With the Canadian government wanting to give out incentives to consumers for purchasing electric vehicles, having the production of EVs slow down means that less people will be as inclined to purchase electric. This means that the government’s goal to get more vehicles on the road is also being held back by the shortage.
