Auto chip shortage to improve in second half, top exec says

STMicroelectronics, one of Europe's largest semiconductor makers, is benefiting from booming demand for automotive chips. Its revenue this year will grow to $12 billion dollars, a level the company didn't expect to reach until 2023. Like other chipmakers ST has been challenged by unexpectedly high demand for semiconductors, particularly from automakers and Tier 1 suppliers, which account for one-third of its sales. ST boss Jean-Marc Chery warns that the chip shortage will last until 2022, although automakers should get some relief in the second half of this year. Chery explained why in an interview with Automotive News Europe Associate Publisher & Editor Luca Ciferri and Correspondent Andrea Malan.