The global shortage of semiconductor chips will last all year and until 2023, the CEO of the German car industry Mercedes-Benz said on Wednesday.
“The state of the semiconductors will be a challenge for the industry this year and next,” CEO Ola Kaellenius told Reuters Automotive Europe in Munich.
He said that despite market volatility, the car industry still has strong order delays.
“We have not yet seen any signs of declining demand,” Kaellenius said.
He said that as the carmaker makes the transition to electric vehicles (EVs), Mercedes-Benz will play a “more active role” in its entire supply chain to the point where raw materials are mined.
He added that it would take a decade for the automotive engine factories to switch to building only fully electric cars, but added that he was confident it could be tidied up.
Source: Capital
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