The global chip shortage that’s hampering companies from carmakers to computer manufacturers may linger for years, according to Germany’s biggest semiconductor company, Infineon Technologies AG. The scarcity “may stretch into 2023" in areas where capacity expansion is slow to catch up with consumer demand, Reinhard Ploss, chief executive officer of Infineon, said in an interview with Frankfurter Allgemeine Zeitung. The chip crunch this year is hurting production at companies from Tesla Inc. to Apple Inc. and Microsoft Corp. Increased work-from-home needs and the catch-up effect in the automotive industry following pandemic-fueled delays have become major drivers for the chip industry, according to Ploss. Ploss called for more efforts in Europe to reduce the continent’s dependence on foreign exporters in the semiconductor business.

Source: Mint August 15, 2021 23:15 UTC