BMW CEO Expects Chip Shortage to Last Until 2023

Oliver Zipse, the chief executive officer of German based manufacturer of luxury cars and motorcycles BMW AG (ETR: BMW) says that the ongoing global shortage of computer shortage which has significantly affected the auto industry will last until 2023.

The CEO made these sentiments during an interview with Neue Zuercher Zeitung (NZZ) which was published on April 11.

We are still in the height of the chip shortage. I expect us to start seeing improvements at the latest next year, but we will still have to deal with a fundamental shortage in 2023,” said Zipse.

These sentiments seems to go against what BMW sad mid-last month when it was holding its annual press brief, BMW said that it expect the global semiconductor shortage to last until the end of this year.

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