FRANKFURT -- The supply of crucial semiconductors to the car sector could remain tight until 2022, Robert Bosch CEO Volkmar Denner told a German newspaper.
"There are difficult months ahead of us, and the situation could remain tense until 2022," Denner told the Frankfurter Allgemeine Zeitung, marking the latest sector heavyweight to warn of a prolonged shortage of chips.
Volkswagen Group CEO Herbert Diess earlier this month said the automaker 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.
Bosch ranked No. 1 on the Automotive News Europe list of the top 100 global suppliers, with worldwide parts sales to automakers of $46.56 billion in 2019.