TSMC ramps up auto chip production as carmakers wrestle with shortages

FILE PHOTO: The logo of Taiwan Semiconductor Manufacturing Co (TSMC) is pictured at its headquarters, in Hsinchu, Taiwan, January 19, 2021. REUTERS/Ann Wang/File Photo

TAIPEI (Reuters) - Taiwan Semiconductor Manufacturing Co Ltd (TSMC) is "expediting" auto-related products through its wafer fabs and reallocating wafer capacity, the company said on Thursday, amid a global shortage of auto chips.

Automakers around the world are shutting assembly lines due to the shortages, which in some cases have been exacerbated by the former U.S. administration's actions against Chinese chip factories.