By Denny Jacob

General Motors Co. and GlobalFoundries Inc. on Thursday said they established a long-term agreement to supply semiconductor chips for the automotive company.

Through the agreement, GlobalFoundries will manufacture for GM's key chip suppliers at its facility in upstate New York. GM said the agreement supports its strategy to reduce the number of unique chips needed to power its vehicles.

"We see our semiconductor requirements more than doubling over the next several years as vehicles become technology platforms," said Doug Parks, GM executive vice president of global product development, purchasing and supply Chain.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

February 09, 2023 12:03 ET (17:03 GMT)

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