Chinese Automakers Face Persistent Chip Shortage

Chinese automakers are likely to continue suffering a semiconductor shortage that has cost them billions of dollars of lost production, executives at one of the country’s top automakers said.

“The chip (shortage) is not a short-term issue for us,” said Yuan Feng, general manager of GAC Capital Co. Ltd., the investment arm of state-owned Guangzhou Automobile Group (GAC). “There is likely to be a shortage of chips even in 2023 and 2024,” Yuan said Sunday at a semiconductor industry forum.