MALTA,
N.Y. and DETROIT,
Feb. 9,
2023 /PRNewswire/ -- General Motors Co. (NYSE: GM)
and GlobalFoundries (NASDAQ: GFS) (GF) today announced a strategic,
long-term agreement establishing a dedicated capacity corridor
exclusively for GM's chip supply. Through this
first-of-its-kind 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.
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.
Semiconductors are the foundation of the technologies that are
powering the electrification, autonomous driving and connectivity
of the auto industry, and they have been center stage in the global
chip shortage that has impacted automakers the last couple of
years.
"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. "The supply agreement with GlobalFoundries will help
establish a strong, resilient supply of critical technology in the
U.S. that will help GM meet this demand, while delivering new
technology and features to our customers."
"At GF we are committed to working with our customers in new and
innovative ways to best address the challenges of today's global
supply chains," said Dr. Thomas
Caulfield, president and CEO of GF. "GF will expand its
production capabilities exclusively for GM's supply chain, enabling
us to strengthen our partnership with the automotive industry and
New York State, while further
accelerating automotive innovation with U.S.-based manufacturing
for a more resilient supply chain."
"This first of its kind agreement between GlobalFoundries and
General Motors is going to drive the Capital Region economy forward
and ensure Upstate New York remains in the driver's seat as one of
the nation's leading hubs for semiconductor manufacturing that is
so critical to the supply chain of the auto industry. I have long
said that Upstate New York's semiconductor corridor will be a major
engine powering America's technological future, and now 'Made in
New York' chips will help
jumpstart the next generation of vehicles for GM across the
country," said U.S. Senate Majority Leader Charles Schumer. "Thanks to my CHIPS and Science
Act, we are bringing manufacturing back to our country and
America's supply chains are being secured, creating good-paying
jobs here in Upstate New York, not overseas. This partnership is
yet another example that our nation's future will be built in
Upstate New York, with the Capital Region as a global center for
the future of the microchip industry."
"We're making New York State
not only the semiconductor capital of the country — but of the
globe," said New York Governor
Kathy Hochul. "This agreement will
help to further establish New York
State as a major hub for semiconductor manufacturing. With
our nation-leading Green CHIPS legislation and the new Governor's
Office of Semiconductor Expansion, Management, and Integration, we
are helping businesses like GM and GlobalFoundries expand the chips
manufacturing ecosystem in our state, creating jobs and
opportunities for generations to come."
GF is responding to the global demand for semiconductors through
a series of strategic long-term agreements with existing and new
customers and simultaneously expanding global capacity to
meet customer demand in partnership with federal and local
governments. Supportive policies like the bipartisan CHIPS and
Science Act are encouraging the onshoring of semiconductor
production and reestablishing the U.S. as a global leader of this
critical technology.
About General Motors (NYSE:GM) is a global company
focused on advancing an all-electric future that is inclusive and
accessible to all. At the heart of this strategy is the Ultium
battery platform, which powers everything from mass-market to
high-performance vehicles. General Motors, its subsidiaries and its
joint venture entities sell vehicles under
the Chevrolet, Buick, GMC, Cadillac,
Baojun and Wuling brands. More information on the
company and its subsidiaries, including OnStar, a global
leader in vehicle safety and security services, can be found
at https://www.gm.com.
About GF
GlobalFoundries (GF) is one of the
world's leading semiconductor manufacturers. GF is redefining
innovation and semiconductor manufacturing by developing and
delivering feature-rich process technology solutions that provide
leadership performance in pervasive high growth markets. GF
offers a unique mix of design, development and
fabrication services. With a talented and diverse workforce and an
at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its
worldwide customers. For more information,
visit www.gf.com.
©GlobalFoundries Inc., GF, GlobalFoundries, the GF logos and
other GF marks are trademarks of GlobalFoundries Inc. Or its
subsidiaries. All other trademarks are the property of their
respective owners.
Forward-looking Information
This news release
may contain forward-looking statements, which involve risks and
uncertainties. Readers are cautioned not to place undue reliance on
any of these forward-looking statements. These forward-looking
statements speak only as of the date hereof. GF undertakes no
obligation to update any of these forward-looking statements to
reflect events or circumstances after the date of this news release
or to reflect actual outcomes, unless require by law.
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SOURCE General Motors Co.