President Joe Biden will meet Monday with executives from nearly two dozen companies -- including General Motors and Ford -- to address the supply chain shortage of semiconductor chips that's disrupting automobile manufacturing.

Biden and national security and economic advisers will meet with top executives from 19 companies about noon EDT.

The virtual meeting aims to examine "steps to strengthen the resilience of American supply chains for semiconductors and other key areas," the White House said in a statement.

The global chip shortage, caused by supply chains sourced primarily from Asia, has slowed auto manufacturing since the start of 2021 -- but also affects national security, White House officials say. Monday's meeting is intended to explore ways to strengthen the U.S. supply chain and other key areas.

Biden has ordered a review of the federal government's role in moving more semiconductor manufacturing to the United States and making current supply lines more reliable.

The president held a bipartisan meeting on the matter in February and pledged $37 billion to cover the short-term costs of rebuilding and securing American supplies of chips.

The shortage has caused General Motors, Ford and Stellantis, which owns Chrysler, to shutter auto plants as they await more semiconductor chips, which are needed for various parts of vehicles' electrical systems. Many other computerized electronics also rely on the chips.

AlixPartners, a global consulting firm, has projected that the assembly of as many as 2.5 million vehicles could be lost in 2021 and the auto industry could lose $61 billion if the chip shortage isn't solved. AlixPartners says the industry has lost production of 1.4 million vehicles worldwide.

Daleep Singh, deputy national security adviser and deputy director of the National Economic Council, told NPR that semiconductors are critical for most emerging technologies, and the chips are civilian and military in their purpose, including pharmaceuticals, space, weapons systems and satellites.

Singh added that all of the most advanced semiconductors are produced in East Asia, and more than 90% are manufactured by a single company.

"That's a critical vulnerability," Singh told NPR.

Biden's proposed $2 trillion infrastructure plan would include $50 billion for a new Commerce Department office to coordinate semiconductor manufacturing in the United States. Biden is expected to discuss the proposal, called the American Jobs Plan, at Monday's meeting.

In attendance at Monday's virtual meeting will be GM CEO Mary Barra, Ford CEO Jim Farley and executives from Dell, Intel, Google, defense contractor Northrop Grumman and chip manufacturers.

National security adviser Jake Sullivan, National Economic Council Director Brian Deese and Commerce Secretary Gina Raimondo will also attend.

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