Advance Auto Parts CEO on chip shortage impact: Aging fleet ‘good for our business’
Advance Auto Parts CEO Tom Greco discusses the rise of electric cars and the impact of chip shortages on the used car industry.
Amid a global semiconductor shortage tied to inflation in the auto and tech industries, the Biden administration is clearing the way to sell the scarce components to China’s communications giant Huawei, according to a new report.
Trump-era restrictions cut off licenses that would allow vendors to sell microchips to Huawei for 5G devices, Reuters reported Wednesday, citing two unnamed sources close to the matter. But the Biden administration’s move would allow less sophisticated chips to be sold to the firm for other purposes, including video screens for cars and trucks.
The Communist Party-linked telecoms firm had been sanctioned by the Trump administration amid security and privacy concerns on a global scale. Huawei filed a lawsuit against the Federal Communications Commission in February disputing the claim it is a threat to U.S. national security.