Carmakers’ Chip Shortages May Last into Late 2021, Renesas Says

Renesas Electronics Corp.’s top executive warned that a global shortage of auto semiconductors may persist into the second half, joining other industry leaders in bracing for a chip crunch to snarl production of cars and gadgets well past the summer.

Industry giants from Continental AG to Innolux Corp. have in recent weeks warned of longer-than anticipated deficits thanks to unprecedented Covid-era demand for everything from cars to game consoles and smartphones. Renesas is running its most critical plants at full capacity to try and sate demand but there was no way of telling when the market might balance out, Chief Executive Officer Hidetoshi Shibata told Bloomberg News.