That's backwards. It would had prevented the shortage. The shortage is happening because manufacturers cancelled their chip orders from their suppliers because

That's backwards. It would had prevented the shortage. The shortage is happening because manufacturers cancelled their chip orders from their suppliers because of reduced sales forecasts due to COVID. When the manufacturers cancelled their orders from their suppliers, the supplies cancelled the orders from the foundries, which cancelled their slots and gave them to consumer electronics which had increased demand. When sales of new cars rose, manufacturers called their suppliers for more parts, which called the foundries to increase production only to find out their previous slots had been sold.