BMW CEO expects chip supply to remain tight for another 6-12 months

BMW CEO Oliver Zipse squashed hopes that the shortage will end soon

BMW (BMWG.DE) expects supply chains to remain tight well into 2022, Chief Executive Oliver Zipse said on Monday, squashing hopes that a painful shortage of crucial semiconductors will end soon.

BMW CEO

BMW CEO Oliver Zipse visits the BMW vaccination centre as the German car manufacturer starts to provide coronavirus disease (COVID-19) vaccinations for staff, in Munich, Germany, June 7, 2021. (REUTERS/Andreas Gebert / Reuters Photos)

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"I expect that the general tightness of the supply chains will continue in the next 6 to 12 months," he said at the IAA Munich car show.

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Zipse, who like other car executives is battling lower production due to a lack of semiconductors, said he saw no issues in the long-term, adding that the automotive industry was an attractive client for chipmakers.