Indie Semiconductor is taking advantage of auto chip scarcity, CEO says
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“Whereas others are struggling, we have truly actually profited,” he stated in a “Mad Cash” interview.
McClymont’s feedback got here after Ford Motor introduced earlier within the day it will reduce on automobile manufacturing at a number of North American vegetation because the business grapples with a world chip scarcity. Demand for semiconductors has spiked through the Covid-19 pandemic as shoppers purchase extra electronics for his or her properties. Semiconductors are utilized in a variety of client merchandise, together with telephones, computer systems and more and more electrified vehicles.
Indie Semiconductor, which relies in Aliso Viejo, California, makes next-generation chips and software program for the auto business. It provides chips for purposes together with superior driver-assistance and autonomous methods, related driving, consumer expertise and automobile electrification.
However whereas firms like have Ford struggled, Indie Semiconductor reviews having a $2 billion backlog for orders.
“We developed our provide chain sort of in our personal picture. We’re wholly targeted on the automotive market,” McClymont stated. “We picked suppliers who’re additionally a lot the identical and to that finish, they make the proper choices for the auto market.”
The non-public firm is anticipated to show right into a public one inside weeks after its blank-check merger with Thunder Bridge Acquisition II closes. Shares of the SPAC, or particular goal acquisition firm, rose 3.37% to $10.42 per share on Wednesday.
The merger, which was introduced in December, values Indie Semiconductor at about $1.4 billion. Indie Semiconductor desires to develop its attain in a $16 billion marketplace for auto semiconductors, the corporate stated citing IHS figures.
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