Bosch CEO: chip supply could remain tight until 2022

Werner Struth responds to a question during a Bosch news conference at the 2017 CES in Las Vegas

FRANKFURT (Reuters) – The supply of crucial semiconductors to the car sector could remain tight until 2022, the chief executive of the world’s largest automotive supplier, Robert Bosch GmbH, told German newspaper Frankfurter Allgemeine Zeitung.

“There are difficult months ahead of us, and the situation could remain tense until 2022,” Volkmar Denner told the paper, marking the latest sector heavyweight to warn of a prolonged shortage of chips.

Volkswagen boss Herbert Diess earlier this month said Europe’s top carmaker was in “crisis mode” over an ongoing lack of badly needed automotive chips, adding the impact of the shortage would intensify and hit profits in the second quarter.

(Reporting by Christoph Steitz; Editing by Chris Reese)