Shortage of chips, worth a few dollars, costing global firms billions

Vehicles, computers, mobile phones and other smart gadgets, with sticker prices ranging up to thousands of dollars, are stuck on assembly lines for lack of components that may just cost a couple of dollars

In the last three months, many large global and domestic auto manufacturers — Tata Motors, Ford, Mahindra, Volkswagen, Audi, Fiat, General Motors — have issued advisories stating production levels will be held well below capacity. Electronics giant Apple has also said it cannot produce iPhones fast enough to meet demand. Sony has struggled to meet demand for its new Playstation5. More­over, many of these companies have