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Renault CEO: Chips shortage situation tougher than expected in Q3

Munich Motor Show IAA Mobility 2021

MUNICH (Reuters) - Renault CEO Luca De Meo said on Monday that the situation regarding the global chips shortage was tougher than expected during the current third quarter, adding the next quarter should bring some improvement despite a poor visibility.

In an interview with Reuters TV, De Meo said the French carmaker was sticking to its previous forecast for a cut to production of 200,000 cars in 2021 due to the shortage.

(Reporting by Gilles Guillaume; Writing by Benoit Van Overstraeten; Editing by Sudip Kar-Gupta)

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