GM, GlobalFoundries enter long-term direct supply deal for semiconductor chips

General Motors Co. (GM) and GlobalFoundries (GFS) announced a strategic, long-term agreement establishing a dedicated capacity corridor exclusively for GM’s chip supply. Through this agreement, GF will manufacture for GM’s key chip suppliers at GF’s advanced semiconductor facility in upstate New York bringing a critical process to the U.S. The companies said, "This agreement supports GM’s strategy to reduce the number of unique chips needed to power increasingly complex and tech-laden vehicles. With this strategy, chips can be produced in higher volumes and are expected to offer better quality and predictability, maximizing high value content creation for the end customer."