Global chip shortages have caused GM and automakers to idle production at plants globally, with some officials warning the issue could last until 2023.
see photosRees said a key issue for the auto industry will be the recycling of the materials used in EV batteries
The president of General Motors Co. said Tuesday that global supply of semiconductor chips will begin to stabilize, but at a lower level than the auto industry as it tries to rebuild vehicle inventories.
“We’re going to see some degree of stabilization before we get to the volume we really need,” Mark Rees said at a conference hosted by the Detroit Regional Chamber on Mackinac Island in northern Michigan.
Global chip shortages have caused GM and automakers to idle production at plants globally, with some officials warning the issue could last until 2023.
GM’s chief financial officer Paul Jacobson said last week that GM expects 2022 to be a “more stable year” for chip suppliers, but warned that third-quarter wholesale deliveries could cut 200,000 vehicles due to shortages.
GM said in July that it was investing in a US lithium project that could become the nation’s largest project by 2024.
Looking ahead, Rees said a key issue for the auto industry will be the recycling of materials used in electric vehicle (EV) batteries, such as rare earth minerals.
“Battery cells contain a lot of material that can be reused,” he said. “We’re spending time on that.”
GM said in July that it was investing in a US lithium project that could become the nation’s largest by 2024, making the No. 1 US automaker among the first to develop its own source of the battery metal needed for EVs. became a.
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Rees said GM was also looking at opportunities in Australia without disclosing details.
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