Cooperation between semiconductor companies and the automotive industry is moving into the fast lane, driven by a chip shortage and a recognition that cars are becoming ever-more digital.

More than a year into the crisis, executives from car and chip makers are establishing closer ties to address the shortage and working together to introduce new products. The shift was on display as executives from such chip companies as Intel Corp. , Qualcomm Inc. and Nvidia Corp. flocked to Munich last week for an annual auto show, lured by the promise of selling chips for new car displays, driver-assistance features and other vehicle applications.