BMW Group CEO Oliver Zipse said in an interview on Monday that he expects the semiconductor shortage could last until 2023.
"We are still at the peak of the chip shortage," Zipse said. "I expect that we will start to see an improvement in the situation next year at the latest, but we will still have to deal with fundamental shortages until 2023."
Earlier, the BMW Group stated at its annual press conference in mid-March that it expected the chip shortage to continue throughout 2022.
Zipse's comments echoed similar statements on Saturday by Volkswagen Chief Financial Officer Arno Antlitz, who said he did not expect chip supplies to meet demand until 2024.
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