Tesla CEO Elon Musk is predicting the global chip shortage will come to an end in 2022.
Musk believes the shortage will come to an end in result of new semiconductor plants that are being either planned or build out right now. Musk was asked how long the chip shortage would affect vehicle production, his answer was “short term, I think.”
“There’s a lot of chip fabrication plants that are being built,” Musk said during a joint session with Stellantis and Ferrari Chairman John Elkann, at Italian Tech Week. “I think we will have good capacity for providing chips by next year,” he added.
The global chip shortage had led to an unprecedented price increase in used cars and an unprecedented amount of cars being built and sitting in parking lots.