The global semiconductor chip shortage led Stellantis to warn that the pain could linger far into the year.
Stellantis on Wednesday did not give an estimate for the financial hit it expects this year from the shortage and said the issue could last into the second half of 2021.
The chip shortage, which has hit automakers worldwide, emerges from a confluence of factors as carmakers, which closed plants for two months during the COVID-19 pandemic last year, rival against the sprawling consumer electronics industry for chip supplies.
While reporting quarterly results on Wednesday, Stellantis said the chip shortage could weigh on this year’s revenues and Chief Financial Officer Richard Palmer informed analysts on a conference call that the financial impact was a “big unknown”.
Stellantis Chief Executive Carlos Tavares said the automaker was working hard to find alternative chip providers, but he wasn’t so sure the issue would be resolved by the second half of this year.
