- Tesla Inc TSLA CEO Elon Musk rebuffed the global auto chip crisis as a "short-term" problem that will be over by next year, CNBC reports.
- Musk previously acknowledged the impact of the crisis on its supply chain.
- At an Italian tech event joined by Ferrari NV RACE and Stellantis NV STLA, Musk expressed confidence in the chip fabrication plants that would likely resolve the crisis, Reuters reports.
- AlixPartners expect the crisis to affect the auto industry $210 billion in lost revenue, up from $110 billion.
- The important chipmakers like Intel Corp INTC and Taiwan Semiconductor Manufacturing Co Ltd TSM expected the crisis to linger.
- The crisis compelled General Motors Co GM and Ford Motor Co F to cut down on production.
- Price Action: INTC shares traded higher by 0.37% at $54.23 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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