Continental expects chip shortage to drag on for months

Continental expects chip shortage to drag on for months

BERLIN: German automotive parts maker Continental AG expects the chip shortage to drag on for months, its chief executive said on Tuesday.

The negative impact will be felt especially in the first quarter, said Nikolai Setzer in a video call, adding that he expects the general situation to ease in the course of the second quarter.

However, in some areas he said he expects the shortage to drag on for the entire year.

(Reporting by Jan Schwartz; Writing by Kirsti Knolle; Editing by Caroline Copley)

Source: Reuters

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