The worldwide chip scarcity that is been a headache for auto producers has truly been a boon for Indie Semiconductor, CEO Donald McClymont informed CNBC Wednesday.

“Whereas others are struggling, we have truly actually profited,” he stated in a “Mad Money” interview.

McClymont’s feedback got here after Ford Motor introduced earlier within the day it could cut back on car production at a number of North American crops because the business grapples with a world chip scarcity. Demand for semiconductors has spiked in the course of the Covid-19 pandemic as shoppers purchase extra electronics for his or her properties. Semiconductors are utilized in a spread of client merchandise, together with telephones, computer systems and more and more electrified cars.

Indie Semiconductor, which relies in Aliso Viejo, California, makes next-generation chips and software program for the car business. It provides chips for purposes together with superior driver-assistance and autonomous programs, related driving, person expertise and car electrification.

However whereas corporations like have Ford struggled, Indie Semiconductor reviews having a $2 billion backlog for orders.

“We developed our provide chain sort of in our personal picture. We’re wholly centered on the automotive market,” McClymont stated. “We picked suppliers who’re additionally a lot the identical and to that finish, they make the appropriate choices for the auto market.”

The non-public firm is predicted to show right into a public one inside weeks after its blank-check merger with Thunder Bridge Acquisition II closes. Shares of the SPAC, or particular goal acquisition firm, rose 3.37% to $10.42 per share on Wednesday.

The merger, which was introduced in December, values Indie Semiconductor at about $1.4 billion. Indie Semiconductor needs to develop its attain in a $16 billion marketplace for auto semiconductors, the corporate stated citing IHS figures.