Semiconductor shortages have been a hot topic for many months. It has to be said that many industries are affected by the scarcity, especially manufacturers of game consoles, smartphones and of course computers. The problem also affects the automotive market and we also know that most new vehicles are equipped with electronic chips.
A revenue loss of 91 billion euros in 2021?
Our biggest challenge is the supply chain, especially microcontroller chips. Never seen anything like it.
The fear of running out makes every company overorder – like the toilet paper shortage, but on an epic scale.
That said, it’s obviously not a long-term problem.
– Elon Musk (@elonmusk) June 2, 2021
In a message on his Twitter account, Tesla boss Elon Musk spoke precisely on this topic. Like most other manufacturers, the company has been severely affected by this shortage. The latter is partly due to a precautionary reflex by companies. He thus specifies:
I’ve never seen anything like it. The fear of becoming scarce leads to over-ordering in all companies – similar to the toilet paper shortage, but massive. Obviously, however, this is not a long-term problem.
In addition, the Tesla boss has real cause for concern. The gap for the automotive industry is likely to be enormous this year. According to a study by the consulting firm AlixPartners, the industry’s loss of revenue could reach 91 billion euros.
While the crisis is likely to last a few more years, according to IBM boss Jim Whitehurst, Europe and the US are trying to tackle it. The European Union has set itself the goal of increasing the proportion of advanced semiconductors produced on the old continent to 20% by 2030. The Commission has reached out to the big industrialists in the sector and is ready to spend billions on promoting this project.
Joe Biden has issued several executive orders aimed at strengthening the semiconductor supply chain over the long term. It is also trying to boost the production of chips in the United States.