According to media reports, three Taiwanese chip foundries, TSMC, United Microelectronics Corporation (UMC), and Vanguard International Semiconductor (VIS), have signed foundry contracts with automotive clients. The orders will complete in 2022 and 2023.

The global automotive chip shortage, which began earlier this year, has affected many major automotive manufacturers. Many factories owned by manufacturers such as General Motors, Ford, and Hyundai have been shut down or reduced production due to chip shortages.

TSMC, UMC, and VIS are all significant global chip foundries. TSMC is currently the world's largest chip foundry, with a share of more than 50% of the chip foundry market. By signing a two-year foundry contract with these manufacturers, adequate chip supply will also be guaranteed for the next two years.