Indie Semiconductor is profiting from auto chip shortage, CEO says

The global chip shortage that’s been a headache for auto manufacturers has actually been a boon for Indie Semiconductor, CEO Donald McClymont told CNBC Wednesday.

“Whereas others are struggling, we’ve actually really profited,” he said in a “Mad Money” interview.

McClymont’s comments came after Ford Motor announced earlier in the day it would cut back on car production at multiple North American plants as the industry grapples with a global chip shortage. Demand for semiconductors has spiked during the Covid-19 pandemic as consumers buy more electronics for their homes. Semiconductors are used in a range of consumer products, including phones, computers and increasingly electrified…