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9/6, 1:40 PM (Source: TeleTrader)
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BMW St.-0.24%

88.43
Chart for: BAY.MOTOREN WERKE AG ST

BMW expects tight chip supply for another year

BMW expects supply chains to remain tight well into 2022 due to a shortage of crucial semiconductors, Chief Executive of the German corporation Oliver Zipse said on Monday.

Speaking at the IAA Munich car show, Zipse cast doubt on a prompt end to car manufacturers' struggles with lower production due to interrupted supply chains. However, he saw no significant issues in the long term, emphasizing that the automotive industry is an attractive client for chipmakers.

BMW ended the first half of 2021 with an all-time high in sales, more than doubling their sales in EV's. Despite these results, the company expects the situation concerning the semi-conductors to potentially impact the company's sales throughout the end of the year.

Breaking the News / TT