General Motors has struck a “first-of-its-kind” deal with GlobalFoundries (GF) to lock down its supply of crucial semiconductors, a move aimed at avoiding the disruptions caused by the recent global chip shortage.
Under the agreement, GF will manufacture the chips at its semiconductor facility in upstate New York. The company, which is owned by the United Arab Emirates sovereign wealth fund Mubadala Investment, has said it would invest $1 billion to build a second factory near its Malta, New York, headquarters.
Like all automakers, GM relies on computer chips to power a range of features in its vehicles: everything from automatic seats and infotainment systems to more advanced automated features. The deal with GF will provide a boost...
