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BMW CEO expects chip supply to remain tight for another 6-12 months

Reuters
·1-min read
German car manufacturer BMW provides COVID-19 vaccinations for staff, in Munich

MUNICH (Reuters) - BMW expects supply chains to remain tight well into 2022, Chief Executive Oliver Zipse said on Monday, squashing hopes that a painful shortage of crucial semiconductors will end soon.

"I expect that the general tightness of the supply chains will continue in the next 6 to 12 months," he said at the IAA Munich car show.

Zipse, who like other car executives is battling lower production due to a lack of semiconductors, said he saw no issues in the long-term, adding that the automotive industry was an attractive client for chipmakers.

(Reporting by Christina Amann; Writing by Christoph Steitz)