General Motors will cut its production at four assembly plants and operate at half capacity due to the global shortage of semiconductor chips. It will run production at plants making the highest-profit vehicles – full-size pickup trucks, SUVs and the Chevrolet Corvette sports car to cover up the lost production. GM’s lost volume would be 10,000 vehicles next week. Most affected vehicles include the Chevrolet Malibu sedan, Cadillac XT4 SUV, Chevy Equinox, Trax etc.
Self-driving car maker Cruise and majority shareholder General Motors will join hands with Microsoft to speed-up the commercialisation of driverless automobiles. Microsoft will join GM, Honda Motor and other institutional investors in a combined new equity investment of more than $2 bn in Cruise, bringing the post-money valuation of the startup to $30 bn. The cruise will use Microsoft’s cloud computing platform Azure for its self-driving vehicles.