Suppliers

The country is home to companies that have become the focus of efforts to resolve a shortage of chips that has hit auto production around the world.

Magna Europe President Günther Apfalter says the chip crisis will cause volatility until early 2022, but he is already seeing positive signs for the region. The shortage, however, isn't the only trouble spot he is monitoring.

COO Jose Munoz said the worst has passed for the industry chip shortage, adding that the automaker had the "toughest months" in August and September.

Failure to obtain enough lithium, nickel, manganese, or cobalt could slow the shift to EVs, make those vehicles more expensive and hit automakers' profits.