Porsche boss warns chip shortage could hit production levels for months

Porsche chief executive officer, Oliver Blume, warned that the global shortage of semiconductor chips could impact production for months.

In an interview with CNBC on Monday, Blume said the shortage, which was already affecting the entire automobile industry, might hamper the German carmaker's every day operations. and it is necessary for it to relax in the short term and look for measures in the long term.

His comments followed a faster than expected recovery in global car sales in late 2020 which coincided with a shortfall in essential chip components on the back of heightened demand for consumer electronics linked to the pandemic.

The shortage had already caused the halt in production by rivals of hundreds of thousand of vehicles around the world.

He also said that Porsche could be forced to reconsider its current supply chain model: “That is very important for the future to think about the supply chain.”

“We have to think about what storage we need really for all these stocks. We have to be more flexible and we have to plan more deeply the immediate capacities.”