If you want to see how technology and deglobalisation are changing the global economy, there are few better places to look than the car industry. Not only is it going through an epochal shift: away from the internal-combustion engine (ice) and towards electric vehicles (evs). Automobiles are also becoming, in effect, computers on wheels, running as much on processing power as the horse variety. And the pandemic has wreaked havoc on car companies’ complex global supply chains, most prominently of semiconductors. As carmakers electrify, computerise and refashion their supply chains for the new reality, the giant sector is undergoing the greatest transformation in decades.
Having outsourced
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