Quote on Impact of ongoing Ukraine Russia conflict on EV’s By Mr. Maxson Lewis, MD & CEO, Magenta
“The fledging EV industry and the automotive industry at large is dependent on semiconductors as a key component of the smart electronics inside. While there are millions of products such as washing machines, smartphones and more which rely on chips, also known as semiconductors, but the last 12 months had seen huge shortages in auto grade semiconductors due to COVID related supply chain issues.
Now, both Ukraine and Russia play a pivotal role in the global semiconductor supply chain. Russia is the leading producer of Palladium, which is essential for memory and sensor chips. It also produces several other rare-earth metals such as Scandium. Ukraine on the other hand is a leading exporter of Neon gas. It is a purified gas that is used for the most important process – etching circuit designs into silicon wafers to create chips.
The back-to-back impact of an already stretched supply chain of semiconductors is threatening to impact the already-rocketing chipset costs and more importantly cause delays worldwide on EV and EV charging components.”
HUYA Inc. Reports Fourth Quarter and Fiscal Year 2021 Unaudited Financial Results
