The semiconductor shortage came out of left field, hitting the industry at a perilous moment. Sales have plunged worldwide. In Europe, for example, they were down 25 percent in 2020.This is all happening while automakers are trying to navigate a shift in basic technology from internal combustion engines to batteries, which has subjected them to new competition from Tesla, the California company that has become the most valuable automaker in the world by far, and emerging Chinese manufacturers like Nio.Exactly how long the shortage will last is unclear. It can take 20 to 25 weeks from the time new orders are placed …
