Tesla's Elon Musk Sees Respite From Chip Crisis Soon

September 24, 2021 1:35 PM | 1 min read |

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.

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